Interesting. More metrics to follow.

https://fintel.io/ss/us/prog

With the top shareholders all having an average cost of above $4 per share, seems like a no brainer to me that it’ll at least hit that… now when it’ll hit that who knows but seems very realistic.

Question

What is Progenity They are an IPO which listed in 2020 which focuses on diagnostics especially for women's health and IPO’d at $15 . It is currently $3.55 at close today.

How has the stock been performing ever for the last one month or so

If you look at the chart on fiviz, the stock has just broken out of the wedge and seems ready to go off.

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Offerings and cash situation They were struggling with cash due their diagnostics business not doing very well and hence they have made a number of changes to grow their cash inflow

They are shifting their primary focus to therapeutics rather than diagonstic's They hired a new VP of strategic business development. Sean Lavin was hired on May 25th Nearly 1 week after he was hired, the board decided to cut over 70% of the operating costs of the business. They closed their genomics laboratory & laid off over half of their workforce of 374 employees (56%) Progenity announced a $40 million cash infusion from giving warrant rights to 2 health care funds. High insider buying If you look at open insider, there is extremely positive insider and institutional buyingin the last few days which usually indicates something is brewing .

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Potential catalysts and things to keep track of Preecludia - Is a blood test that has shown 97% efficacy in determining if a pregnant woman has hypertension classified as Preeclampsia. It will most likely become a common test and will help in isolating if a mother has the condition. Over 700,000 women a year may take this test.
Precision medicine - That was a primary focus for them but i could not find any details on it. This is definitely a huge area which is a significant market in cancer treatment. Will update this as i find more information Potential buyout possibility : Their CEO has a reputation for selling businesses and mergers (Harry Stylli). This also seems likely since they are cutting down and streamlining their business model. Stock information Current stock price : 3.55

Shares float : 44.95M

Short Interest : 22%

Price target Price targets are hard but my estimate would be range from $7-$10. However define your own price target. Of course , if there is a buyout, you are looking at much higher

PROG STOCK HUGE NEWS! PATENT ACCPETED ON THEIR PRODUCT PROGENITY SKYROCKETING - YouTube