NeoGenomics (NASDAQ:NEO) Stock Price Up 7.4%

NeoGenomics, Inc. (NASDAQ:NEO)’s share price rose 7.4% during trading on Tuesday . The company traded as high as $14.47 and last traded at $14.41. Approximately 367,691 shares traded hands during trading, a decline of 59% from the average daily volume of 894,080 shares. The stock had previously closed at $13.42.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NEO shares. BTIG Research cut their price objective on NeoGenomics from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, December 29th. The Goldman Sachs Group boosted their price target on shares of NeoGenomics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. William Blair reiterated an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Needham & Company LLC upped their target price on shares of NeoGenomics from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Piper Sandler lifted their price target on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

NeoGenomics Price Performance

The stock has a market cap of $1.81 billion, a PE ratio of -20.31 and a beta of 1.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.20 and a quick ratio of 5.95. The firm’s 50 day moving average price is $15.08 and its two-hundred day moving average price is $15.89.

NeoGenomics (NASDAQ:NEO) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $152.90 million. On average, research analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics 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 completion of the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors have recently made changes to their positions in NEO. BluePath Capital Management LLC bought a new stake in NeoGenomics during the 3rd quarter valued at $30,000. Burkett Financial Services LLC bought a new stake in NeoGenomics during the 4th quarter valued at $46,000. Quadrant Capital Group LLC raised its holdings in NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after buying an additional 883 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,791 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in NeoGenomics during the 3rd quarter valued at $133,000. Hedge funds and other 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.