For Progenity Inc. [PROG], Analyst sees a drop to $57. What next?


Progenity Inc. [NASDAQ: PROG] price plunged by -1.38 percent to reach at -$0.02. The company report on March 16, 2022 that Progenity to Report Fourth Quarter and Full-Year 2021 Financial Results and Provide Corporate Update.

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Progenity, Inc. (Nasdaq: PROG), a biotechnology company innovating in the field of oral biotherapeutics for gastrointestinal health and beyond, today announced that it will report financial results for the fourth quarter and full year ended December 31, 2021 on Monday, March 28, 2022 after the close of financial markets. Progenity’s management will host a webcast and conference call at 4:30 p.m. Eastern / 1:30 p.m. Pacific that day to discuss the financial results and provide a corporate update.

The live call may be accessed by dialing 877-423-9813 for domestic callers or 201-689-8573 for international callers and entering the conference code: 13727360. A live webcast will be available online in the Investor Relations section of the company website at and a replay will be available online for 60 days following the call.

A sum of 16981197 shares traded at recent session while its average daily volume was at 10.33M shares. Progenity Inc. shares reached a high of $1.70 and dropped to a low of $1.42 until finishing in the latest session at $1.43.

The one-year PROG stock forecast points to a potential upside of 52.33. The average equity rating for PROG stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Progenity Inc. [PROG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PROG shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PROG stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Progenity Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on November 04, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on October 14, 2021, representing the official price target for Progenity Inc. stock. Previously, the target price had yet another drop from $4 to $2, while Robert W. Baird kept a Neutral rating on PROG stock. On February 08, 2021, analysts decreased their price target for PROG shares from 11 to 5.

The Average True Range (ATR) for Progenity Inc. is set at 0.16, with the Price to Sales ratio for PROG stock in the period of the last 12 months amounting to 13.91.

PROG Stock Performance Analysis:

Progenity Inc. [PROG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.83. With this latest performance, PROG shares dropped by -12.80% in over the last four-week period, additionally plugging by 51.39% over the last 6 months – not to mention a drop of -70.82% 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 52.56, with the RSI for the last a single of trading hit 59.79, and the three-weeks RSI is set at 48.67 for Progenity Inc. [PROG]. The present Moving Average for the last 50 days of trading for this stock 1.4745, while it was recorded at 1.3260 for the last single week of trading, and 2.1633 for the last 200 days.

Insight into Progenity Inc. 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 0.90.

Progenity Inc. [PROG] Insider Position Details

There are presently around $69 million, or 31.90% 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 29,855,847, which is approximately -17.971% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 4,788,419 shares of the stock with an approximate value of $6.85 million in PROG stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $6.55 million in PROG stock with ownership of nearly -29.93% of the company’s market capitalization.

Positions in Progenity Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 50 institutional holders increased their position in Progenity Inc. [NASDAQ:PROG] by around 11,028,505 shares. Additionally, 17 investors decreased positions by around 10,498,932 shares, while 1 investors held positions by with 26,924,963 shares. The mentioned changes placed institutional holdings at 48,452,400 shares, according to the latest SEC report filing. PROG stock had 32 new institutional investments in for a total of 3,392,008 shares, while 11 institutional investors sold positions of 1,426,702 shares during the same period.