NeoGenomics (NASDAQ:NEO) Trading Down 7.7% After Analyst Downgrade

Shares of NeoGenomics, Inc. (NASDAQ:NEO) were down 7.7% on Tuesday after Needham & Company LLC lowered their price target on the stock from $24.00 to $19.00. Needham & Company LLC currently has a buy rating on the stock. NeoGenomics traded as low as $13.70 and last traded at $14.05. Approximately 252,873 shares traded hands during trading, a decline of 72% from the average daily volume of 903,145 shares. The stock had previously closed at $15.22.

Several other research analysts have also commented on NEO. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. The Goldman Sachs Group boosted their target price 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. Finally, Piper Sandler upped their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.88.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’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 value of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares of the company’s stock, valued at $521,595.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

Several large investors have recently modified their holdings of NEO. Allspring Global Investments Holdings LLC raised its stake in NeoGenomics by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,247 shares of the medical research company’s stock valued at $334,000 after purchasing an additional 1,791 shares during the last quarter. Oak Family Advisors LLC raised its stake in NeoGenomics by 7.7% during the 1st quarter. Oak Family Advisors LLC now owns 107,641 shares of the medical research company’s stock valued at $1,692,000 after purchasing an additional 7,663 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in NeoGenomics by 6.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock valued at $251,000 after purchasing an additional 993 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of NeoGenomics by 27.0% in 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 in the last quarter. Finally, First Light Asset Management LLC raised its stake in shares of NeoGenomics by 29.6% in the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock valued at $63,535,000 after buying an additional 897,843 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

NeoGenomics Trading Down 8.1 %

The company has a market cap of $1.79 billion, a price-to-earnings ratio of -19.96 and a beta of 1.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.95 and a current ratio of 6.20. The business’s 50 day moving average price is $15.05 and its 200-day moving average price is $15.96.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $155.55 million during the quarter, compared to analysts’ expectations of $152.90 million. On average, research analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current year.

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.