NeoGenomics (NASDAQ:NEO) Shares Gap Down – What’s Next?

Shares of NeoGenomics, Inc. (NASDAQ:NEO) gapped down prior to trading on Tuesday . The stock had previously closed at $11.09, but opened at $10.29. NeoGenomics shares last traded at $10.5510, with a volume of 495,092 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NEO shares. Benchmark upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, April 29th. William Blair restated a “market perform” rating on shares of NeoGenomics in a research note on Monday, March 16th. Piper Sandler increased their price objective on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. UBS Group restated a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Finally, TD Cowen raised their target price on NeoGenomics from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NeoGenomics has a consensus rating of “Hold” and an average target price of $13.86.

NeoGenomics Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.06 and a current ratio of 4.42. The firm has a market cap of $1.35 billion, a P/E ratio of -13.48 and a beta of 1.82. The company has a 50-day moving average of $9.24 and a 200 day moving average of $10.28.

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

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total transaction of $59,916.03. Following the completion of the transaction, the director owned 91,422 shares in the company, valued at $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

Several institutional investors have recently bought and sold shares of NEO. Royal Bank of Canada raised its position in NeoGenomics by 51.2% in the 1st quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company’s stock valued at $532,000 after purchasing an additional 18,966 shares during the last quarter. AQR Capital Management LLC bought a new position in NeoGenomics in the 1st quarter valued at $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NeoGenomics by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company’s stock valued at $719,000 after purchasing an additional 3,254 shares during the last quarter. Intech Investment Management LLC raised its position in NeoGenomics by 19.7% in the 1st quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company’s stock valued at $1,441,000 after purchasing an additional 24,965 shares during the last quarter. Finally, Creative Planning raised its position in NeoGenomics by 20.4% in the 2nd quarter. Creative Planning now owns 16,735 shares of the medical research company’s stock valued at $122,000 after purchasing an additional 2,840 shares during the last quarter. Institutional investors 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.