NeoGenomics (NASDAQ:NEO) Shares Gap Up to $14.64

Shares of NeoGenomics, Inc. (NASDAQ:NEO) gapped up before the market opened on Tuesday . The stock had previously closed at $14.64, but opened at $15.89. NeoGenomics shares last traded at $17.42, with a volume of 868,104 shares.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Cowen cut their price objective on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Stephens restated an “overweight” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Tuesday. BTIG Research lowered their target price on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a research report on Tuesday. Finally, Craig Hallum assumed coverage on shares of NeoGenomics in a research report on Wednesday, May 1st. They set a “buy” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Trading Up 16.3 %

The company has a quick ratio of 7.22, a current ratio of 7.48 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $14.68. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -25.76 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The company had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. NeoGenomics’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) earnings per share. On average, equities analysts anticipate that NeoGenomics, Inc. will post -0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of NeoGenomics by 107.2% during the 2nd quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after buying an additional 1,206 shares during the last quarter. Burkett Financial Services LLC acquired a new position in shares of NeoGenomics during the 4th quarter worth $46,000. Quadrant Capital Group LLC raised its stake in shares of NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock worth $79,000 after buying an additional 883 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in NeoGenomics by 27.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in NeoGenomics by 6.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock valued at $251,000 after purchasing an additional 993 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.