Progenity Inc. [PROG] fell -80.79% so far this year. What now?

Progenity Inc. [NASDAQ: PROG] jumped around 0.08 points on Tuesday, while shares priced at $1.02 at the close of the session, up 8.50%. The company report on September 14, 2021 that Progenity Announces Patent Granted by USPTO for its Preeclampsia Rule-Out Test.

Progenity, Inc. (Nasdaq: PROG), an innovative biotechnology company, announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 11,112,403 for assessment of preeclampsia using assays for free and dissociated placental growth factor.

The patent is directed to methods, compositions, and kits for detecting and measuring free and dissociated placental growth factor (PlGF) levels in biological samples. PlGF is well established as an important biomarker for the assessment of preeclampsia, and recent studies have revealed the importance of distinguishing between the free and bound forms when assessing the complex physiological pathways involved in preeclampsia.

Progenity Inc. stock is now -80.79% down from its year-to-date (YTD) trading value. PROG Stock saw the intraday high of $1.20 and lowest of $0.9902 per share. The company’s 52-week high price is 9.75, which means current price is +55.25% above from all time high which was touched on 01/27/21.

Compared to the average trading volume of 5.76M shares, PROG reached a trading volume of 54133807 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Progenity Inc. [PROG]?

Robert W. Baird have made an estimate for Progenity Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 03, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $11 to $5. The new note on the price target was released on February 08, 2021, representing the official price target for Progenity Inc. stock. Previously, the target price had yet another raise to $12, while BTIG Research analysts kept a Buy rating on PROG stock.

The Average True Range (ATR) for Progenity Inc. is set at 0.15, with the Price to Sales ratio for PROG stock in the period of the last 12 months amounting to 3.07.

How has PROG stock performed recently?

Progenity Inc. [PROG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.67. With this latest performance, PROG shares dropped by -38.55% in over the last four-week period, additionally sinking by -79.01% over the last 6 months – not to mention a drop of -89.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PROG stock in for the last two-week period is set at 37.81, with the RSI for the last a single of trading hit 43.25, and the three-weeks RSI is set at 36.11 for Progenity Inc. [PROG]. The present Moving Average for the last 50 days of trading for this stock 1.8190, while it was recorded at 1.0200 for the last single week of trading, and 3.6949 for the last 200 days.

Progenity Inc. [PROG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Progenity Inc. [PROG] shares currently have an operating margin of -561.13 and a Gross Margin at -129.20. Progenity Inc.’s Net Margin is presently recorded at -472.30.

Return on Total Capital for PROG is now -1,020.81, given the latest momentum, and Return on Invested Capital for the company is -890.01. Additionally, PROG Total Debt to Total Capital is recorded at 293.42, with Total Debt to Total Assets ending up at 105.10.

Receivables Turnover for the company is 2.30 with a Total Asset Turnover recorded at a value of 0.32.Progenity Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.30.

Insider trade positions for Progenity Inc. [PROG]

There are presently around $56 million, or 46.70% of PROG stock, in the hands of institutional investors. The top three institutional holders of PROG stocks are: ATHYRIUM CAPITAL MANAGEMENT, LP with ownership of 36,396,907, which is approximately 34.646% of the company’s market cap and around 13.60% of the total institutional ownership; ARMISTICE CAPITAL, LLC, holding 7,597,166 shares of the stock with an approximate value of $7.75 million in PROG stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $6.67 million in PROG stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Progenity Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 26 institutional holders increased their position in Progenity Inc. [NASDAQ:PROG] by around 16,699,555 shares. Additionally, 35 investors decreased positions by around 4,873,691 shares, while 4 investors held positions by with 33,471,700 shares. The mentioned changes placed institutional holdings at 55,044,946 shares, according to the latest SEC report filing. PROG stock had 16 new institutional investments in for a total of 1,968,582 shares, while 23 institutional investors sold positions of 3,680,138 shares during the same period.

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