Stephens lifts Progenity Inc. [PROG] price estimate. Who else is bullish?


Progenity Inc. [NASDAQ: PROG] plunged by -$0.01 during the normal trading session on Thursday and reaching a high of $0.88 during the day while it closed the day at $0.85. The company report on April 25, 2022 that Progenity Appoints Paul Shabram to Lead Technical Operations of the Company’s Ingestible Drug/Device Platforms.

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Expanding Leadership Team to Accelerate Development of Innovative Therapeutic Delivery Platforms.

Progenity, Inc. (Nasdaq: PROG), a biotechnology company innovating in the field of oral biotherapeutics for gastrointestinal health and beyond, today announced the appointment of Paul Shabram, MBA, as Senior Vice President, Technical Operations. Mr. Shabram brings over 30 years of biotech experience leading successful development programs and commercial products while implementing novel manufacturing processes.

Progenity Inc. stock has also loss -12.97% of its value over the past 7 days. However, PROG stock has declined by -33.36% in the 3 months of the year. Over the past six months meanwhile, it has lost -77.25% and lost -59.19% year-on date.

The market cap for PROG stock reached $166.52 million, with 166.85 million shares outstanding. Compared to the average trading volume of 8.24M shares, PROG reached a trading volume of 3234562 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $4.00 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 0.12, with the Price to Sales ratio for PROG stock in the period of the last 12 months amounting to 138.77.

PROG stock trade performance evaluation

Progenity Inc. [PROG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.97. With this latest performance, PROG shares dropped by -31.21% in over the last four-week period, additionally sinking by -77.25% over the last 6 months – not to mention a drop of -72.03% 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 30.12, with the RSI for the last a single of trading hit 23.82, and the three-weeks RSI is set at 34.47 for Progenity Inc. [PROG]. The present Moving Average for the last 50 days of trading for this stock 1.2410, while it was recorded at 0.9136 for the last single week of trading, and 1.8991 for the last 200 days.

Progenity Inc. [PROG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Progenity Inc. [PROG] shares currently have an operating margin of -9449.64 and a Gross Margin at -15.24. Progenity Inc.’s Net Margin is presently recorded at -14316.04.

Progenity Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.60.

Progenity Inc. [PROG]: Insider Ownership positions

There are presently around $41 million, or 28.40% 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 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 4,788,419 shares of the stock with an approximate value of $4.08 million in PROG stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $3.91 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 May and at the time of the May reporting period, where 45 institutional holders increased their position in Progenity Inc. [NASDAQ:PROG] by around 10,997,575 shares. Additionally, 19 investors decreased positions by around 10,507,027 shares, while 5 investors held positions by with 26,979,138 shares. The mentioned changes placed institutional holdings at 48,483,740 shares, according to the latest SEC report filing. PROG stock had 27 new institutional investments in for a total of 3,343,763 shares, while 13 institutional investors sold positions of 1,434,797 shares during the same period.