The Price Of Progenity Inc. (PROG) Has Climbed $50.68 Past Week

The stock of Progenity Inc. (NASDAQ:PROG) increased by increased by $0.46 on Friday to finish at $2.96, up 18.40 percent. The last five days have seen an average of 190,722,641 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$2.35. The average number of shares traded over the last 20 days was 135,448,109, while the average volume over the last 50 days totaled 62,115,676.

PROG stock appreciated 210.14% since last month. On 09/28/21, the company’s shares reached a one-month low of $0.86. The stock touched a high of $8.24 on 01/27/21, after rallying from a low of $0.66 in 52 weeks. The price of PROG stock has declined by -44.26% or -$2.35 this year, reaching a new high 8 times. Still, the stock price is down -64.08% from the 52-week high.


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Insider Transactions

There have been 133 days since Progenity Inc. (PROG) last reported insider trading activity on Jun 14. On Jun 14, 10% Owner Athyrium Capital Management, L acquired 8,097,166 shares at $2.47 each. This transaction resulted in the insider spending $20,000,000. On Jun 14, Athyrium Opportunities Fund (A added 8,097,166 shares at a price of US$2.47. After the transaction, the insider now owns 36,396,907 shares. 10% Owner Athyrium Opportunities Fund (A had earlier bought 1,268,115 shares on Jun 01 for $2.86 a share. The transaction was completed for $3,626,809.

For the three months ended June 29, Progenity Inc.’s current ratio was 1.30. As far as profitability goes, gross margin for the trailing twelve months is -10.20% percent. Based on annual data, it had gross profit of -$19.12 million and revenue of $74.31 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PROG’s return on assets (ROA) during the last 12 months has been -178.60%. There was a -285.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 215.80%.

Earnings Surprise

According to Progenity Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $0.46 million, while revenues fell by -3654.35% to $24.53 million. It was predicted that Progenity Inc.’s quarterly earnings would be -$1.23, but it ended up being -$0.81, beating the consensus by -51.90%. EBITDA was -$31.57 million for the quarter. At the end of Progenity Inc.’s most recent quarter ended June 29, its liabilities totaled 259.56 million, while its total debt was $162.44 million. Equity owned by shareholders amounts to $79.41 million.

Technical Picture

Here’s a quick look at Progenity Inc.’s (PROG) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 70.71%, suggesting the stock is Overbought, with a 290.55% historical volatility rate.

The stochastic %K and %D were 64.81% and 69.72% respectively, while the average true range (ATR) was 0.53. Based on the 14-day stochastic reading of 74.79%, the RSI (14) reading is 69.49%. On the 9-day MACD Oscillator, the stock is at 0.21, and the 14-day reading is at 0.56.

Analyst Ratings

In its analyst report released on October 14, 2021, H.C. Wainwright began covering Progenity Inc. (NASDAQ: PROG). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Progenity Inc. (PROG) an Overweight rating. PROG is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.

What is PROG’s price target for the next 12 months?

The current consensus forecast for the stock is between $2.00 and $12.00, with a median target price of $4.00. In analyzing these forecasts, the average price target given by analysts for Progenity Inc. (PROG) is $6.00.

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