NeoGenomics (NASDAQ:NEO) Stock Price Down 5.3% - Here's What Happened

Key Points

• Shares fell 5.3% to $8.22 on Thursday with trading volume of 464,154 shares (about 75% below the average), leaving a market cap near $1.06 billion.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $11.86, though recent upgrades raised targets (Needham to $15, Piper Sandler to $13) and ratings span Buy–Hold–Sell.
• NeoGenomics beat quarterly estimates with $0.06 EPS (vs. $0.04 expected) and revenue up 10.6% Y/Y to $190.17M, but the company still has negative net margins and analysts forecast about -0.2 EPS for the year.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) shares fell 5.3% during trading on Thursday . The stock traded as low as $8.28 and last traded at $8.2170. 464,154 shares traded hands during trading, a decline of 75% from the average session volume of 1,827,349 shares. The stock had previously closed at $8.68.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEO. Needham & Company LLC raised their price target on NeoGenomics from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. UBS Group reaffirmed a "hold" rating on shares of NeoGenomics in a report on Wednesday, February 18th. William Blair reaffirmed a "market perform" rating on shares of NeoGenomics in a report on Monday, March 16th. Benchmark reiterated a "hold" rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Finally, Piper Sandler lifted their target price on NeoGenomics from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, NeoGenomics has an average rating of "Hold" and a consensus target price of $11.86.

NeoGenomics Trading Down 6.4%

The company has a current ratio of 4.26, a quick ratio of 3.94 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average of $9.05 and a 200-day moving average of $10.47. The stock has a market cap of $1.06 billion, a PE ratio of -9.68 and a beta of 1.72.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The business had revenue of $190.17 million during the quarter, compared to the consensus estimate of $188.25 million. During the same period in the prior year, the firm posted $0.04 EPS. The business's revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Insider Transactions at NeoGenomics

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of the company's stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the transaction, the chief operating officer directly owned 121,631 shares of the company's stock, valued at $1,520,387.50. This represents a 15.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd raised its stake in NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company's stock worth $26,000 after acquiring an additional 997 shares during the period. First Horizon Corp boosted its stake in NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company's stock worth $30,000 after purchasing an additional 865 shares during the period. Headlands Technologies LLC acquired a new stake in shares of NeoGenomics during the 2nd quarter valued at $32,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock valued at $35,000 after buying an additional 1,556 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of NeoGenomics during the 4th quarter valued at $39,000. Institutional investors own 98.50% of the company's stock.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.