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

NeoGenomics, Inc. (NASDAQ:NEO) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,220,000 shares, an increase of 20.9% from the February 28th total of 3,490,000 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 3.5 days. Approximately 3.3% of the company’s stock are sold short.

Institutional Trading of NeoGenomics

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in NeoGenomics by 2.8% during the fourth quarter. Nordea Investment Management AB now owns 77,534 shares of the medical research company’s stock worth $1,301,000 after purchasing an additional 2,125 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 worth $45,022,000 after buying an additional 36,136 shares in the last quarter. Swiss National Bank lifted its holdings in shares of NeoGenomics by 1.0% in the 4th quarter. Swiss National Bank now owns 252,100 shares of the medical research company’s stock valued at $4,155,000 after buying an additional 2,600 shares during the period. Jennison Associates LLC boosted its stake in shares of NeoGenomics by 18.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after buying an additional 238,288 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company’s stock worth $6,411,000 after acquiring an additional 9,098 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded up $0.10 during midday trading on Wednesday, reaching $9.45. 1,375,186 shares of the company were exchanged, compared to its average volume of 885,815. The stock has a market cap of $1.21 billion, a P/E ratio of -15.24 and a beta of 1.28. NeoGenomics has a 1 year low of $8.98 and a 1 year high of $19.12. The stock has a fifty day simple moving average of $11.73 and a 200 day simple moving average of $14.25. The company has a current ratio of 1.98, a quick ratio of 1.91 and a debt-to-equity ratio of 0.38.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million during the quarter, compared to analyst estimates of $173.40 million. On average, research analysts forecast that NeoGenomics will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on NEO shares. Piper Sandler cut their price target on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Benchmark lowered NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Bank of America lowered 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. The Goldman Sachs Group cut their price objective on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Jefferies Financial Group began coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They issued a “buy” rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.60.

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.