NeoGenomics, Inc. (NASDAQ:NEO) Short Interest Update

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) saw a significant increase in short interest in the month of 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. Approximately 5.0% of the company's shares are sold short.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded down $0.13 during midday trading on Thursday, reaching $7.26. 1,047,120 shares of the company traded hands, compared to its average volume of 1,746,527. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $12.21. NeoGenomics has a 52 week low of $6.08 and a 52 week high of $19.11. The company has a market cap of $933.68 million, a price-to-earnings ratio of -11.70 and a beta of 1.60.

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

Insiders Place Their Bets

In other NeoGenomics news, CEO Anthony P. Zook acquired 18,900 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $148,932.00. Following the transaction, the chief executive officer now directly owns 18,900 shares of the company's stock, valued at approximately $148,932. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Scott Sherman acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the completion of the transaction, the chief financial officer now directly owns 158,494 shares in the company, valued at approximately $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 70,600 shares of company stock valued at $550,438 over the last 90 days. 2.40% of the stock is owned by company insiders.

Institutional Trading of NeoGenomics

A number of hedge funds have recently bought and sold shares of NEO. Swiss National Bank lifted its stake in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock valued at $4,155,000 after buying an additional 2,600 shares during the period. Jennison Associates LLC raised its holdings in NeoGenomics by 18.7% in the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after acquiring an additional 238,288 shares in the last quarter. Rhumbline Advisers lifted its position in shares of NeoGenomics by 2.4% in the 4th quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock worth $6,411,000 after acquiring an additional 9,098 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of NeoGenomics by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock worth $19,139,000 after purchasing an additional 26,701 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of NeoGenomics during the fourth quarter valued at approximately $453,000. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on NEO shares. Needham & Company LLC reduced their target price on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Bank of America reduced their target price on shares of NeoGenomics from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Guggenheim started coverage on shares of NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating on the stock. Piper Sandler set a $12.00 target price on shares of NeoGenomics and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group dropped their target price on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.