NeoGenomics (NASDAQ:NEO) Trading 4.8% Higher

NeoGenomics, Inc. (NASDAQ:NEO)’s share price rose 4.8% on Friday . The stock traded as high as $13.99 and last traded at $13.98. Approximately 438,617 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 842,653 shares. The stock had previously closed at $13.34.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Craig Hallum started coverage on NeoGenomics in a report on Wednesday, May 1st. They set a “buy” rating and a $26.00 target price for the company. Needham & Company LLC cut their price objective on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. BTIG Research decreased 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. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research report on Wednesday, May 1st. Finally, TD Cowen reduced their price target on NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.78.

NeoGenomics Stock Performance

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 company has a 50 day moving average price of $14.07 and a 200-day moving average price of $15.28.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The company had revenue of $156.24 million during the quarter, compared to analyst estimates of $149.82 million. NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. Equities research analysts expect that NeoGenomics, Inc. will post -0.21 earnings per share for the current year.

Hedge Funds Weigh In On NeoGenomics

Hedge funds have recently modified their holdings of the business. Burkett Financial Services LLC bought a new position in NeoGenomics during the fourth quarter worth $46,000. Quadrant Capital Group LLC lifted its stake in shares of NeoGenomics by 22.0% in the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of NeoGenomics by 27.0% during 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 in the last quarter. Corton Capital Inc. acquired a new stake in NeoGenomics during the third quarter worth approximately $141,000. Finally, Banque Cantonale Vaudoise lifted its stake in NeoGenomics by 6.6% in the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock valued at $251,000 after buying an additional 993 shares during the period. 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.