Preventing misdiagnosis is a major priority in the medical community. Connecticut-based Precipio (NASDAQ:PRPO) seeks to address this by providing a higher standard of diagnostic accuracy, while also offering value for investors in PRPO stock.
There’s a lot at stake here, as according to Precipio, one in five patients is misdiagnosed. Even beyond the unfortunate consequences for the patients, significant downstream healthcare dollars are wasted (estimated between $10 billion and $15 billion annually in the U.S.).
Clearly, there’s an immediate need for better diagnostic solutions. Thankfully, Precipio’s on the cutting edge with a platform that delivers superior diagnostic accuracy.
Moreover, stakeholders will be glad to learn that a diagnostic platform provided by Precipio is now available on a very important e-commerce portal.
PRPO Stock at a Glance
If you’re averse to fast price moves, then PRPO might not be right for you. This is a wild one, but if you can handle the volatility, then the rewards could be substantial.
Here’s an example of what I’m talking about. In May of 2020, the share price was around 67 cents.
The next thing you know, PRPO stock rocketed to a 52-week high of $9.18 before the summer was over. So as you can see, when the bulls take control, the moves can be swift and powerful.
In a more recent example of this, the stock catapulted from $1.83 at the end of April 2021 to $7.80 on May 4. That must have been brutal for any short sellers out there!
Today, PRPO stock has retraced to about $4. Hence, you might be able to pick up some shares at a discount to the peak price.
Not Just the Covid-19 Test
Let’s be 100% honest. Most of Precipio’s shareholders probably know the company as a maker of a rapid test for the novel coronavirus.
We can’t really blame the investors for focusing on this. After all, the Covid-19 pandemic is a generationally significant medical event.
However, I want current and prospective investors to know that there’s more to Precipo than Covid-19 tests.
Here’s a rundown of the company’s product offerings (and yes, I’ll include the Covid-19 test in there):
- HemeScreen HRM Reagents, a proprietary hematologic malignancy mutation profile screening panel
- IV-Cell Cytogenetics Media, a medium developed specifically to support bone marrow and peripheral blood cell culture for in vitro cytogenetic analysis of hematological disease
- ICE COLD-PCR, a technology that preferentially enriches mutant DNA sequences in an excess of wild-type DNA through selective amplification of the mutant DNA
- Covid-19 IgM and IgG Serology Antibody Test, which has been approved by the U.S. Food and Drug Administration (FDA) through an emergency use authorization (EUA)
A Huge E-Commerce Boost
Hopefully, you now have an idea of Precipio’s diversification beyond the company’s rapid Covid-19 antibody test.
That being said, it’s evident that the stakeholders are celebrating the availability of Precipio’s Covid-19 antibody test for sale on Amazon (NASDAQ:AMZN).
There’s no denying that this is a major event for the company. It’s only a slight exaggeration to say that if your product isn’t on Amazon, it’s practically invisible to potential buyers.
You can get the full scoop on this from InvestorPlace contributor William White. And while you’re at it, you can check out the Amazon listing here.
As White points out, Precipio’s Covid-19 antibody test is indeed rapid, as it’s able to turn in results in as fast as 20 minutes.
Furthermore, this “was the first U.S.-based test to receive emergency use authorization by the U.S. Food and Drug Administration (FDA) for point-of-care.”
One caveat, though: The Precipio Covid-19 antibody test on Amazon is only available to qualified medical point-of-care providers.
The Takeaway
Even though not everyone can purchase Precipio’s Covid-19 antibody test on Amazon, the listing is still quite significant.
And just as importantly, Precipio offers more than just Covid-19 tests — something that folks should be aware of if they’re going to invest in PRPO stock.
Currently, PRPO stock has a B rating and a buy recommendation in my Portfolio Grader.
On the date of publication, Louis Navellier had a long position in AMZN. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today.
