NeoGenomics (NASDAQ:NEO) Shares Gap Down – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $18.61, but opened at $17.75. NeoGenomics shares last traded at $15.64, with a volume of 235,450 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group began coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. Bank of America upped their price target on NeoGenomics from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a research note on Wednesday, November 6th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, NeoGenomics has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Trading Down 15.1 %

The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.03 billion, a P/E ratio of -25.90 and a beta of 1.24. The stock has a 50 day simple moving average of $16.81 and a 200-day simple moving average of $15.63.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, November 5th. The medical research company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $167.80 million during the quarter, compared to analysts’ expectations of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, equities research analysts expect that NeoGenomics, Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at NeoGenomics

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $15.36, for a total transaction of $79,488.00. Following the transaction, the general counsel now owns 37,129 shares of the company’s stock, valued at approximately $570,301.44. This represents a 12.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Trading of NeoGenomics

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of NeoGenomics by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock worth $45,022,000 after buying an additional 36,136 shares during the period. Jennison Associates LLC grew its holdings in NeoGenomics by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 1,276,468 shares of the medical research company’s stock worth $18,828,000 after acquiring an additional 57,041 shares in the last quarter. First Light Asset Management LLC increased its position in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after purchasing an additional 480,396 shares during the period. Blue Trust Inc. raised its holdings in shares of NeoGenomics by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 987 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of NeoGenomics by 152.6% in the 2nd quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock worth $3,658,000 after purchasing an additional 159,350 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.