NeoGenomics (NASDAQ:NEO) Shares Gap Down – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO) gapped down before the market opened on Tuesday . The stock had previously closed at $11.38, but opened at $10.50. NeoGenomics shares last traded at $10.35, with a volume of 853,063 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of NeoGenomics in a report on Wednesday. Needham & Company LLC increased their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research upgraded shares of NeoGenomics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. UBS Group restated a “hold” rating on shares of NeoGenomics in a report on Wednesday. Finally, Leerink Partners set a $14.00 price objective on NeoGenomics in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NeoGenomics presently has a consensus rating of “Hold” and a consensus price target of $11.57.

NeoGenomics Stock Performance

The stock’s 50 day simple moving average is $12.13 and its two-hundred day simple moving average is $10.11. The company has a quick ratio of 3.62, a current ratio of 4.26 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.30 billion, a PE ratio of -11.92 and a beta of 1.58.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 17th. The medical research company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $190.17 million for the quarter, compared to the consensus estimate of $188.25 million. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. As a group, research analysts anticipate that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at NeoGenomics

In other news, EVP Alicia C. Olivo sold 20,916 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $12.00, for a total transaction of $250,992.00. Following the completion of the sale, the executive vice president directly owned 31,083 shares in the company, valued at $372,996. This trade represents a 40.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Warren Stone sold 22,128 shares of NeoGenomics stock in a transaction on 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 owned 121,631 shares of the company’s stock, valued at approximately $1,520,387.50. This trade represents a 15.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On NeoGenomics

Large investors have recently modified their holdings of the stock. First Horizon Corp increased its holdings in NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after buying an additional 865 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 1,556 shares in the last quarter. Kestra Advisory Services LLC bought a new position in NeoGenomics during the fourth quarter worth $39,000. Aster Capital Management DIFC Ltd boosted its holdings in NeoGenomics by 42.5% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after purchasing an additional 997 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of NeoGenomics by 77.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock worth $42,000 after purchasing an additional 1,515 shares during the period. Institutional investors 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.