NeoGenomics (NASDAQ:NEO) Shares Gap Up – Here’s Why

NeoGenomics, Inc. (NASDAQ:NEO)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.78, but opened at $14.95. NeoGenomics shares last traded at $14.72, with a volume of 512,658 shares.

Analyst Ratings Changes

Several brokerages recently commented on NEO. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Friday, January 10th. Bank of America increased their price objective on shares of NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock Down 5.0 %

The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $16.72 and its 200 day simple moving average is $15.65.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted ($0.06) earnings per share. As a group, research analysts anticipate that NeoGenomics, Inc. will post -0.16 EPS for the current year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Fernwood Investment Management LLC lifted its position in shares of NeoGenomics by 1.0% during the third quarter. Fernwood Investment Management LLC now owns 89,500 shares of the medical research company’s stock valued at $1,320,000 after purchasing an additional 900 shares in the last quarter. FMR LLC raised its position in NeoGenomics by 7.6% in the third quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. raised its position in NeoGenomics by 42.3% in the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares during the period. Oppenheimer Asset Management Inc. raised its position in NeoGenomics by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 32,505 shares of the medical research company’s stock worth $451,000 after acquiring an additional 1,030 shares during the period. Finally, KBC Group NV raised its position in NeoGenomics by 33.1% in the third quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock worth $67,000 after acquiring an additional 1,127 shares during the period. 98.50% of the stock is 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.