NeoGenomics (NASDAQ:NEO) Shares Down 7.9% – Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s share price traded down 7.9% during trading on Thursday . The company traded as low as $8.10 and last traded at $7.8710. 177,453 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,937,773 shares. The stock had previously closed at $8.55.

Analysts Set New Price Targets

NEO has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Needham & Company LLC lifted their price target on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeoGenomics in a research note on Monday, December 29th. TD Cowen restated a “buy” rating on shares of NeoGenomics in a research report on Wednesday, January 7th. Finally, UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NeoGenomics currently has an average rating of “Hold” and a consensus price target of $11.86.

NeoGenomics Stock Down 6.1%

The business’s 50 day simple moving average is $11.36 and its 200-day simple moving average is $10.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.94 and a current ratio of 4.26. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -9.57 and a beta of 1.62.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $190.17 million during the quarter, compared to analyst estimates of $188.25 million. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.NeoGenomics’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Sell-side analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at NeoGenomics

In other news, COO Warren Stone sold 22,128 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total transaction of $276,600.00. Following the completion of the sale, the chief operating officer directly owned 121,631 shares of the company’s stock, valued at $1,520,387.50. This trade represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of hedge funds have recently added to or reduced their stakes in NEO. First Light Asset Management LLC raised its position in NeoGenomics by 45.0% during the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock valued at $76,639,000 after acquiring an additional 3,080,837 shares in the last quarter. Greenhouse Funds LLLP grew its position in NeoGenomics by 57.8% in the second quarter. Greenhouse Funds LLLP now owns 7,431,147 shares of the medical research company’s stock worth $54,322,000 after acquiring an additional 2,722,823 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of NeoGenomics during the 4th quarter worth $19,182,000. American Capital Management Inc. increased its stake in shares of NeoGenomics by 120.9% during the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after purchasing an additional 1,283,390 shares during the last quarter. Finally, Aberdeen Group plc raised its holdings in shares of NeoGenomics by 127.1% during the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock valued at $21,156,000 after purchasing an additional 1,006,676 shares in the last quarter. Institutional investors and hedge funds 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.