NeoGenomics (NASDAQ:NEO) Shares Gap Down – Time to Sell?

NeoGenomics, Inc. (NASDAQ:NEO) shares 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 changing hands.

Wall Street Analysts Forecast Growth

NEO has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, November 6th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of NeoGenomics in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Bank of America boosted their target price on NeoGenomics from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.30.

NeoGenomics Stock 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 stock has a market capitalization of $2.03 billion, a PE ratio of -25.90 and a beta of 1.24. The stock’s fifty day simple moving average is $16.81 and its 200-day simple moving average is $15.63.

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

Insider Buying and Selling

In other news, General Counsel Alicia C. Olivo sold 5,175 shares of the stock in a transaction that occurred on 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 represents a 12.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeoGenomics

A number of large investors have recently made changes to their positions in NEO. Versant Capital Management Inc lifted its stake in NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after purchasing an additional 1,142 shares in the last quarter. Quarry LP bought a new position in shares of NeoGenomics during the 3rd quarter valued at about $40,000. Blue Trust Inc. raised its stake in shares of NeoGenomics by 42.3% during the third quarter. Blue Trust Inc. now owns 3,318 shares of the medical research company’s stock worth $46,000 after acquiring an additional 987 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in NeoGenomics in the second quarter worth $57,000. Finally, KBC Group NV boosted its holdings in NeoGenomics by 33.1% during the 3rd quarter. KBC Group NV now owns 4,530 shares of the medical research company’s stock valued at $67,000 after acquiring an additional 1,127 shares during the period. 98.50% of the stock is owned by 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.