NeoGenomics (NASDAQ:NEO) Shares Gap Down – Here’s Why

Shares of NeoGenomics, Inc. (NASDAQ:NEO) gapped down before the market opened 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 changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America increased their target price on shares of NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a report on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

NeoGenomics Price Performance

The business’s 50 day moving average price is $16.82 and its two-hundred day moving average price is $15.66. The stock has a market cap of $1.90 billion, a P/E ratio of -24.21 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, November 5th. The medical research company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $167.80 million for the quarter, compared to analyst estimates of $167.00 million. NeoGenomics had a negative net margin of 12.07% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, sell-side analysts expect that NeoGenomics, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 5,175 shares of NeoGenomics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $15.36, for a total transaction of $79,488.00. Following the completion of the transaction, the general counsel now directly owns 37,129 shares of the company’s stock, valued at $570,301.44. This trade represents a 12.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in NeoGenomics by 2.8% during the 4th quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock valued at $1,301,000 after acquiring an additional 2,125 shares during the period. Versant Capital Management Inc lifted its position in NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares during the period. Franklin Resources Inc. lifted its position in NeoGenomics by 2.0% during the 3rd quarter. Franklin Resources Inc. now owns 2,043,840 shares of the medical research company’s stock valued at $28,225,000 after acquiring an additional 39,740 shares during the period. Geode Capital Management LLC lifted its position in NeoGenomics by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,051,806 shares of the medical research company’s stock valued at $45,022,000 after acquiring an additional 36,136 shares during the period. Finally, State Street Corp lifted its position in NeoGenomics by 1.6% during the 3rd quarter. State Street Corp now owns 4,958,582 shares of the medical research company’s stock valued at $73,139,000 after acquiring an additional 80,449 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.