Lynn Tetrault Sells 5,307 Shares of NeoGenomics (NASDAQ:NEO) Stock

NeoGenomics, Inc. (NASDAQ:NEO) Director Lynn Tetrault sold 5,307 shares of NeoGenomics stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

NeoGenomics Stock Performance

NEO traded up $0.19 during trading on Thursday, hitting $11.47. 2,312,924 shares of the stock were exchanged, compared to its average volume of 1,929,257. The firm has a market capitalization of $1.49 billion, a P/E ratio of -14.90 and a beta of 1.82. NeoGenomics, Inc. has a 1-year low of $4.72 and a 1-year high of $13.74. The stock has a fifty day moving average price of $8.93 and a two-hundred day moving average price of $10.32. The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The business had revenue of $186.67 million for the quarter, compared to analyst estimates of $184.54 million. The business’s revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that NeoGenomics, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On NeoGenomics

Large investors have recently modified their holdings of the stock. Aberdeen Group plc grew its stake in shares of NeoGenomics by 91.8% in the third quarter. Aberdeen Group plc now owns 792,263 shares of the medical research company’s stock valued at $6,116,000 after buying an additional 379,165 shares in the last quarter. Greenhouse Funds LLLP grew its stake in shares of NeoGenomics by 10.6% in the third quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company’s stock valued at $63,463,000 after buying an additional 789,510 shares in the last quarter. Silverback Asset Management LLC acquired a new stake in shares of NeoGenomics in the third quarter valued at about $1,554,000. White Pine Capital LLC grew its stake in shares of NeoGenomics by 394.3% in the third quarter. White Pine Capital LLC now owns 138,822 shares of the medical research company’s stock valued at $1,072,000 after buying an additional 110,735 shares in the last quarter. Finally, First Light Asset Management LLC grew its stake in NeoGenomics by 45.0% during the 3rd quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock valued at $76,639,000 after purchasing an additional 3,080,837 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

NEO has been the topic of several recent analyst reports. Weiss Ratings upgraded NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. William Blair reaffirmed a “market perform” rating on shares of NeoGenomics in a research note on Monday, March 16th. Piper Sandler upped their price objective on shares of NeoGenomics from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. UBS Group reaffirmed a “hold” rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Finally, TD Cowen upped their price objective on shares of NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.86.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.