NeoGenomics' (NEO) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• NeoGenomics' stock was given a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook on the company's performance.
• Despite the sell rating from Weiss, several analysts, including Needham & Company, have raised their price targets for NeoGenomics, with an average target price of $12.56.
• Institutional investors hold 98.50% of NeoGenomics' shares, reflecting strong interest and investment in the company from large financial entities.

NeoGenomics (NASDAQ:NEO - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on NEO. Needham & Company LLC upped their price objective on NeoGenomics from $8.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Stephens raised their price objective on NeoGenomics from $6.50 to $11.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. TD Cowen lifted their target price on NeoGenomics from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, September 12th. Piper Sandler set a $11.00 price objective on NeoGenomics and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Cowen reissued a "buy" rating on shares of NeoGenomics in a report on Friday, September 12th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NeoGenomics currently has an average rating of "Hold" and an average target price of $12.56.

NeoGenomics Stock Up 1.6%

NEO stock opened at $9.17 on Wednesday. NeoGenomics has a twelve month low of $4.72 and a twelve month high of $19.11. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.18 billion, a P/E ratio of -11.32 and a beta of 1.61. The business's 50-day moving average price is $7.38 and its 200-day moving average price is $7.71.

Institutional Investors Weigh In On NeoGenomics

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of NeoGenomics by 1,107.7% during the 1st quarter. GAMMA Investing LLC now owns 17,765 shares of the medical research company's stock worth $1,872,000 after purchasing an additional 16,294 shares during the period. Chicago Capital LLC lifted its stake in shares of NeoGenomics by 46.6% during the 1st quarter. Chicago Capital LLC now owns 24,007 shares of the medical research company's stock worth $228,000 after purchasing an additional 7,627 shares during the period. Advisor Resource Council purchased a new position in shares of NeoGenomics in the 1st quarter worth $872,000. HighMark Wealth Management LLC grew its stake in shares of NeoGenomics by 28.7% during the first quarter. HighMark Wealth Management LLC now owns 124,600 shares of the medical research company's stock valued at $1,182,000 after acquiring an additional 27,800 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of NeoGenomics by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,461 shares of the medical research company's stock valued at $318,000 after acquiring an additional 11,733 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

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.

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