NeoGenomics (NASDAQ:NEO) Shares Up 7.4%

Shares of NeoGenomics, Inc. (NASDAQ:NEO) shot up 7.4% during trading on Tuesday . The stock traded as high as $14.47 and last traded at $14.41. 367,691 shares were traded during trading, a decline of 59% from the average session volume of 894,080 shares. The stock had previously closed at $13.42.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEO. Piper Sandler raised their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Needham & Company LLC raised their price target on shares of NeoGenomics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, TD Cowen dropped their price target on shares of NeoGenomics from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, December 29th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

NeoGenomics Stock Down 1.3 %

The company’s 50 day moving average price is $15.04 and its two-hundred day moving average price is $15.88. The company has a current ratio of 6.20, a quick ratio of 5.95 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.77 billion, a P/E ratio of -19.79 and a beta of 1.10.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative net margin of 14.87% and a negative return on equity of 4.13%. The firm had revenue of $155.55 million for the quarter, compared to analysts’ expectations of $152.90 million. Equities analysts forecast that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now owns 34,866 shares in the company, valued at approximately $521,595.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEO. AE Wealth Management LLC raised its position in shares of NeoGenomics by 14.4% during the third quarter. AE Wealth Management LLC now owns 36,831 shares of the medical research company’s stock valued at $453,000 after buying an additional 4,646 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of NeoGenomics during the third quarter valued at approximately $1,844,000. Brown Advisory Inc. raised its position in shares of NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock valued at $101,428,000 after buying an additional 1,651,717 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NeoGenomics by 17.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,643 shares of the medical research company’s stock valued at $315,000 after buying an additional 3,837 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in shares of NeoGenomics during the third quarter valued at approximately $30,000. 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.