NeoGenomics, Inc. (NASDAQ:NEO) Short Interest Update

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,220,000 shares, a growth of 20.9% from the February 28th total of 3,490,000 shares. Based on an average trading volume of 1,220,000 shares, the short-interest ratio is currently 3.5 days. Currently, 3.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEO shares. Jefferies Financial Group started coverage on shares of NeoGenomics in a research note on Tuesday, December 10th. They set a "buy" rating and a $22.00 target price on the stock. Benchmark lowered shares of NeoGenomics from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Needham & Company LLC cut their price objective on shares of NeoGenomics from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Piper Sandler lowered their target price on NeoGenomics from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America cut their price target on NeoGenomics from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, NeoGenomics presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.60.

Institutional Trading of NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in NeoGenomics by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,651 shares of the medical research company's stock worth $16,736,000 after acquiring an additional 57,677 shares in the last quarter. FMR LLC lifted its position in shares of NeoGenomics by 7.6% during the third quarter. FMR LLC now owns 13,255 shares of the medical research company's stock worth $196,000 after purchasing an additional 931 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of NeoGenomics by 110.1% during the third quarter. BNP Paribas Financial Markets now owns 72,963 shares of the medical research company's stock worth $1,076,000 after purchasing an additional 38,238 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of NeoGenomics in the third quarter valued at approximately $229,000. Finally, Paloma Partners Management Co acquired a new position in shares of NeoGenomics in the third quarter valued at approximately $255,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Trading Up 1.1 %

Shares of NeoGenomics stock traded up $0.10 during trading hours on Wednesday, hitting $9.45. The company's stock had a trading volume of 1,375,186 shares, compared to its average volume of 885,815. The firm has a fifty day moving average of $11.73 and a 200-day moving average of $14.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -15.24 and a beta of 1.28. NeoGenomics has a twelve month low of $8.98 and a twelve month high of $19.12.

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NeoGenomics (NASDAQ:NEO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). The company had revenue of $172.00 million for the quarter, compared to analysts' expectations of $173.40 million. NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. Research analysts forecast that NeoGenomics will post -0.2 EPS for the current year.

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.

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