NeoGenomics (NASDAQ:NEO) Stock Price Down 7% – Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s share price was down 7% on Wednesday . The stock traded as low as $10.30 and last traded at $10.12. Approximately 296,896 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 788,880 shares. The stock had previously closed at $10.88.

Analyst Upgrades and Downgrades

NEO has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on NeoGenomics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price on the stock. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price objective on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Piper Sandler decreased their price target on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Needham & Company LLC dropped their target price on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The company has a 50-day simple moving average of $13.52 and a 200 day simple moving average of $14.92. The company has a market capitalization of $1.34 billion, a P/E ratio of -16.95 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Sell-side analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of NeoGenomics

A number of institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in NeoGenomics during the 3rd quarter worth approximately $1,101,000. KBC Group NV raised its stake in NeoGenomics by 33.1% during the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after buying an additional 1,127 shares during the last quarter. Royce & Associates LP boosted its position in NeoGenomics by 3.2% during the third quarter. Royce & Associates LP now owns 639,476 shares of the medical research company’s stock valued at $9,432,000 after acquiring an additional 19,780 shares during the last quarter. Natixis Advisors LLC grew its holdings in NeoGenomics by 54.1% during the 3rd quarter. Natixis Advisors LLC now owns 33,982 shares of the medical research company’s stock worth $501,000 after acquiring an additional 11,936 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of NeoGenomics by 67.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company’s stock valued at $27,928,000 after purchasing an additional 759,524 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

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.