NeoGenomics (NASDAQ:NEO) Shares Up 7.9% – What’s Next?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price traded up 7.9% during trading on Thursday . The company traded as high as $10.67 and last traded at $10.9420. 90,717 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,915,082 shares. The stock had previously closed at $10.14.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC lifted their price objective on NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Piper Sandler lifted their price objective on NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $25.00 in a research report on Wednesday, April 29th. Finally, William Blair reissued a “market perform” rating on shares of NeoGenomics in a research report on Monday, March 16th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.86.

NeoGenomics Price Performance

The company has a 50-day moving average price of $8.57 and a two-hundred day moving average price of $10.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The company has a market cap of $1.47 billion, a PE ratio of -14.68 and a beta of 1.82.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company had revenue of $186.67 million during the quarter, compared to the consensus estimate of $184.54 million. The company’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that NeoGenomics, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. First Light Asset Management LLC lifted its stake in shares of NeoGenomics by 1.1% in the fourth quarter. First Light Asset Management LLC now owns 10,035,063 shares of the medical research company’s stock worth $118,012,000 after acquiring an additional 107,794 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in shares of NeoGenomics by 10.6% in the third quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock worth $63,463,000 after acquiring an additional 789,510 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of NeoGenomics in the first quarter worth about $45,725,000. Geode Capital Management LLC lifted its stake in shares of NeoGenomics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,176,644 shares of the medical research company’s stock worth $37,364,000 after acquiring an additional 44,733 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NeoGenomics by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,674,335 shares of the medical research company’s stock worth $19,842,000 after acquiring an additional 225,588 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

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.