NeoGenomics (NASDAQ:NEO) Reaches New 12-Month Low – Here’s What Happened

NeoGenomics, Inc. (NASDAQ:NEO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.05 and last traded at $8.36, with a volume of 60044 shares. The stock had previously closed at $8.20.

Analyst Ratings Changes

NEO has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective for the company. Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC reduced their price target on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Piper Sandler lowered their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Bank of America reduced their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.60.

NeoGenomics Stock Up 0.8 %

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -13.36 and a beta of 1.41. The business has a fifty day moving average of $11.00 and a 200 day moving average of $13.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

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

Institutional Trading of NeoGenomics

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of NeoGenomics by 1,107.7% during the 1st quarter. GAMMA Investing LLC now owns 17,765 shares of the medical research company’s stock valued at $1,872,000 after acquiring an additional 16,294 shares during the last quarter. Moody National Bank Trust Division raised its position in shares of NeoGenomics by 16.6% in the first quarter. Moody National Bank Trust Division now owns 85,347 shares of the medical research company’s stock valued at $810,000 after purchasing an additional 12,121 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NeoGenomics by 7.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,111 shares of the medical research company’s stock valued at $10,648,000 after purchasing an additional 42,895 shares during the period. Sovereign s Capital Management LLC acquired a new stake in shares of NeoGenomics in the fourth quarter worth $490,000. Finally, Squarepoint Ops LLC bought a new stake in shares of NeoGenomics during the 4th quarter worth $276,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.