NeoGenomics (NASDAQ:NEO) Stock Price Up 11.2% – Should You Buy?

NeoGenomics, Inc. (NASDAQ:NEO)’s share price was up 11.2% during trading on Wednesday . The stock traded as high as $12.64 and last traded at $12.7520. 1,369,820 shares changed hands during trading, a decline of 35% from the average session volume of 2,100,419 shares. The stock had previously closed at $11.47.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $25.00 in a report on Wednesday, April 29th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. William Blair restated a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Benchmark raised shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, April 29th. Finally, TD Cowen upped their price objective on shares of NeoGenomics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NeoGenomics currently has an average rating of “Hold” and an average target price of $13.86.

NeoGenomics Stock Performance

The firm’s 50-day moving average is $9.70 and its two-hundred day moving average is $10.27. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -17.72 and a beta of 1.82. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $186.67 million during the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that NeoGenomics, Inc. will post -0.15 earnings per share for the current year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares of the company’s stock, valued at approximately $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp raised its holdings in shares of NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 865 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of NeoGenomics by 42.5% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after buying an additional 997 shares during the last quarter. State of Alaska Department of Revenue grew its stake in NeoGenomics by 1.7% during the 4th quarter. State of Alaska Department of Revenue now owns 73,044 shares of the medical research company’s stock worth $858,000 after buying an additional 1,215 shares during the last quarter. Choreo LLC lifted its stake in NeoGenomics by 2.2% in the fourth quarter. Choreo LLC now owns 61,462 shares of the medical research company’s stock valued at $752,000 after buying an additional 1,313 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in NeoGenomics by 68.2% in the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock valued at $42,000 after buying an additional 1,460 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

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.