NeoGenomics, Inc. (NASDAQ:NEO) Director Acquires $38,000.00 in Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Michael Aaron Kelly bought 5,000 shares of NeoGenomics stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average cost of $7.60 per share, with a total value of $38,000.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $38,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NeoGenomics Trading Down 1.1%

Shares of NEO traded down $0.08 during midday trading on Wednesday, reaching $7.42. The company had a trading volume of 1,005,102 shares, compared to its average volume of 1,150,008. NeoGenomics, Inc. has a 1-year low of $6.08 and a 1-year high of $19.12. The stock has a market cap of $954.92 million, a PE ratio of -11.97 and a beta of 1.60. The firm has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $12.55. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $168.04 million for the quarter, compared to analysts’ expectations of $171.38 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Research analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in shares of NeoGenomics during the 4th quarter worth $26,000. Sterling Capital Management LLC boosted its holdings in NeoGenomics by 788.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 3,289 shares during the period. Brooklyn Investment Group purchased a new position in NeoGenomics during the 1st quarter valued at about $35,000. Smartleaf Asset Management LLC boosted its holdings in NeoGenomics by 203.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 2,787 shares during the period. Finally, Blue Trust Inc. boosted its holdings in NeoGenomics by 33.2% during the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after acquiring an additional 1,103 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEO. Piper Sandler set a $12.00 target price on NeoGenomics and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Leerink Partnrs downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Needham & Company LLC reduced their price objective on NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Wall Street Zen raised NeoGenomics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Bank of America reduced their price objective on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.83.

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.