NeoGenomics (NASDAQ:NEO) Trading Up 7.1%

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price rose 7.1% during mid-day trading on Monday . The stock traded as high as $15.21 and last traded at $15.15. Approximately 388,634 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 886,004 shares. The stock had previously closed at $14.14.

Analysts Set New Price Targets

NEO has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of NeoGenomics in a research note on Wednesday, February 21st. Needham & Company LLC lowered their price objective on NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler raised their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Finally, The Goldman Sachs Group raised their price target on NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.88.

NeoGenomics Price Performance

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 50 day moving average of $15.04 and a 200-day moving average of $15.97.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. NeoGenomics had a negative return on equity of 4.13% and a negative net margin of 14.87%. Research analysts expect that NeoGenomics, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, General Counsel Alicia C. Olivo sold 2,587 shares of NeoGenomics stock in a transaction on Thursday, February 15th. The stock was 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 of the company’s stock, valued at approximately $521,595.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently bought and sold shares of NEO. BluePath Capital Management LLC purchased a new position in shares of NeoGenomics in the 3rd quarter valued at $30,000. Burkett Financial Services LLC purchased a new position in NeoGenomics during the 4th quarter worth $46,000. Quadrant Capital Group LLC grew its stake 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 worth $79,000 after buying an additional 883 shares during the last quarter. WINTON GROUP Ltd purchased a new position in NeoGenomics during the 3rd quarter worth $133,000. Finally, PNC Financial Services Group Inc. grew its stake 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 worth $136,000 after buying an additional 1,791 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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.