NeoGenomics (NASDAQ:NEO) Shares Cross Above 50 Day Moving Average – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.75 and traded as high as $15.28. NeoGenomics shares last traded at $14.50, with a volume of 2,874,736 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NEO shares. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of NeoGenomics from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. TD Cowen upped their price target on shares of NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. William Blair reaffirmed a “market perform” rating on shares of NeoGenomics in a research note on Monday, March 16th. Finally, Weiss Ratings cut shares of NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.86.

NeoGenomics Stock Down 4.4%

The business has a fifty day moving average price of $10.75 and a two-hundred day moving average price of $10.44. The company has a current ratio of 4.42, a quick ratio of 4.06 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -18.83 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $186.67 million for the quarter, compared to the consensus estimate of $184.54 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. NeoGenomics’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that NeoGenomics, Inc. will post -0.15 earnings per share for the current year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were 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 of the company’s stock, valued at approximately $1,032,154.38. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NEO. First Trust Advisors LP bought a new position in NeoGenomics during the first quarter valued at approximately $45,725,000. First Light Asset Management LLC grew its position in NeoGenomics by 45.0% in the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company’s stock worth $76,639,000 after acquiring an additional 3,080,837 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of NeoGenomics during the 4th quarter worth $19,182,000. American Capital Management Inc. increased its stake in shares of NeoGenomics by 120.9% during the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company’s stock worth $18,105,000 after purchasing an additional 1,283,390 shares during the last quarter. Finally, Aberdeen Group plc raised its holdings in shares of NeoGenomics by 127.1% during the 4th quarter. Aberdeen Group plc now owns 1,798,939 shares of the medical research company’s stock valued at $21,156,000 after purchasing an additional 1,006,676 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.