NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 2,007,412 shares traded hands during trading, an increase of 61% from the previous session's volume of 1,250,713 shares.The stock last traded at $7.17 and had previously closed at $7.01.
Analysts Set New Price Targets
A number of research firms have weighed in on NEO. Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Leerink Partnrs lowered NeoGenomics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Needham & Company LLC reduced their price target on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.83.
Check Out Our Latest Stock Analysis on NeoGenomics
NeoGenomics Stock Up 0.3%
The company has a quick ratio of 1.95, a current ratio of 2.05 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $924.07 million, a price-to-earnings ratio of -11.77 and a beta of 1.65. The stock has a 50 day moving average of $7.82 and a 200 day moving average of $11.14.
NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share (EPS) 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 the consensus estimate of $171.38 million. NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) earnings per share. As a group, analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.
Insider Activity at NeoGenomics
In other NeoGenomics news, Director Michael Aaron Kelly purchased 5,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $7.60 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at approximately $38,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Brian Perez bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $7.63 per share, with a total value of $76,300.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $76,300. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 70,600 shares of company stock worth $550,438 in the last 90 days. 2.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in NeoGenomics during the 4th quarter valued at $26,000. Sterling Capital Management LLC boosted its stake in NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after buying an additional 3,289 shares in the last quarter. Brooklyn Investment Group bought a new position in NeoGenomics during the first quarter valued at about $35,000. Smartleaf Asset Management LLC raised its position in NeoGenomics by 203.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company's stock worth $70,000 after acquiring an additional 2,787 shares in the last quarter. Finally, CWM LLC lifted its holdings in NeoGenomics by 42.6% in the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock valued at $60,000 after acquiring an additional 1,883 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.
NeoGenomics Company Profile
(
Get Free Report)
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.
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