NeoGenomics, Inc. (NASDAQ:NEO) Sees Large Increase in Short Interest

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 6,280,000 shares, an increase of 32.2% from the April 30th total of 4,750,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.0% of the shares of the company are sold short.

NeoGenomics Stock Performance

NEO stock traded up $0.29 during trading on Friday, reaching $7.42. The stock had a trading volume of 1,132,834 shares, compared to its average volume of 1,180,354. The stock's 50 day moving average is $8.36 and its two-hundred day moving average is $12.16. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38. NeoGenomics has a 52 week low of $6.08 and a 52 week high of $19.12. The firm has a market cap of $954.92 million, a PE ratio of -11.97 and a beta of 1.65.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $168.04 million for the quarter, compared to analysts' expectations of $171.38 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. As a group, equities analysts anticipate that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David Brian Perez acquired 10,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $7.63 per share, for a total transaction of $76,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at approximately $76,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Aaron Kelly bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the acquisition, the director now directly owns 5,000 shares of the company's stock, valued at $38,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 70,600 shares of company stock valued at $550,438 over the last three months. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of NeoGenomics by 5.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company's stock worth $257,000 after acquiring an additional 770 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of NeoGenomics by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company's stock valued at $220,000 after buying an additional 863 shares during the period. Blue Trust Inc. boosted its position in NeoGenomics by 33.2% during the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company's stock worth $73,000 after purchasing an additional 1,103 shares during the period. SBI Securities Co. Ltd. purchased a new stake in NeoGenomics during the 4th quarter worth $26,000. Finally, CWM LLC boosted its position in NeoGenomics by 42.6% during the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after purchasing an additional 1,883 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NEO shares. Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $25.00 to $9.00 in a research note on Wednesday, April 30th. Morgan Stanley dropped their price objective on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Guggenheim assumed coverage on NeoGenomics in a research note on Thursday, May 15th. They issued a "neutral" rating on the stock. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics currently has an average rating of "Hold" and an average target price of $13.83.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.