NeoGenomics (NASDAQ:NEO) Trading Down 5.7% - Here's Why

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s share price fell 5.7% during mid-day trading on Friday . The company traded as low as $6.33 and last traded at $6.34. 842,329 shares were traded during trading, a decline of 36% from the average session volume of 1,308,657 shares. The stock had previously closed at $6.72.

Analyst Ratings Changes

NEO has been the topic of several recent research reports. Piper Sandler set a $12.00 price target on NeoGenomics and gave the company an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley reduced their price target on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Guggenheim initiated coverage on NeoGenomics in a report on Thursday, May 15th. They set a "neutral" rating for the company. Needham & Company LLC lowered their target price on NeoGenomics from $18.00 to $8.50 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, NeoGenomics has a consensus rating of "Hold" and an average price target of $13.83.

NeoGenomics Stock Up 3.4%

The stock has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $9.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.05 and a quick ratio of 1.95. The firm has a market cap of $826.25 million, a PE ratio of -10.52 and a beta of 1.63.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.21% and a negative net margin of 11.54%. The firm had revenue of $168.04 million for the quarter, compared to analysts' expectations of $171.38 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, CEO Anthony P. Zook bought 18,900 shares of NeoGenomics stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $7.88 per share, with a total value of $148,932.00. Following the acquisition, the chief executive officer directly owned 18,900 shares of the company's stock, valued at $148,932. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Stone acquired 5,700 shares of the stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $8.58 per share, for a total transaction of $48,906.00. Following the acquisition, the chief operating officer owned 108,280 shares of the company's stock, valued at approximately $929,042.40. The trade was a 5.56% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,600 shares of company stock valued at $550,438 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of NeoGenomics during the 1st quarter worth approximately $35,000. CWM LLC increased its stake in NeoGenomics by 42.6% during the first quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after acquiring an additional 1,883 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of NeoGenomics in the first quarter worth about $60,000. Sterling Capital Management LLC boosted its position in shares of NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock worth $61,000 after buying an additional 3,289 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in NeoGenomics in the first quarter valued at about $95,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Company Profile

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.