NeoGenomics, Inc. (NASDAQ:NEO) Short Interest Down 9.6% in August

NeoGenomics, Inc. (NASDAQ:NEOGet Rating) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,220,000 shares, a drop of 9.6% from the August 15th total of 4,670,000 shares. Based on an average daily trading volume, of 1,780,000 shares, the short-interest ratio is currently 2.4 days.

NeoGenomics Stock Down 1.3 %

Shares of NASDAQ NEO opened at $9.84 on Tuesday. NeoGenomics has a 1 year low of $6.85 and a 1 year high of $54.74. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -8.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.26 and a current ratio of 7.53. The stock’s 50-day simple moving average is $10.25 and its 200-day simple moving average is $10.73.

NeoGenomics (NASDAQ:NEOGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The medical research company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. NeoGenomics had a negative return on equity of 8.53% and a negative net margin of 30.00%. The firm had revenue of $125.00 million during the quarter, compared to the consensus estimate of $123.26 million. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that NeoGenomics will post -1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Several hedge funds have recently bought and sold shares of NEO. Assenagon Asset Management S.A. lifted its stake in NeoGenomics by 5,912.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,611,674 shares of the medical research company’s stock worth $29,435,000 after acquiring an additional 3,551,602 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of NeoGenomics in the 2nd quarter valued at approximately $16,915,000. Federated Hermes Inc. increased its holdings in NeoGenomics by 288.0% in the second quarter. Federated Hermes Inc. now owns 2,676,036 shares of the medical research company’s stock worth $21,810,000 after buying an additional 1,986,369 shares during the last quarter. First Light Asset Management LLC raised its position in NeoGenomics by 236.9% during the second quarter. First Light Asset Management LLC now owns 2,715,487 shares of the medical research company’s stock valued at $22,131,000 after acquiring an additional 1,909,529 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in NeoGenomics by 21.7% in the second quarter. Brown Advisory Inc. now owns 5,569,547 shares of the medical research company’s stock valued at $45,392,000 after acquiring an additional 994,490 shares during the last quarter. 92.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of NeoGenomics to a “sell” rating in a research note on Saturday, August 13th. Cowen increased their price target on shares of NeoGenomics to $18.00 in a research note on Monday, August 15th. BTIG Research cut shares of NeoGenomics to a “neutral” rating in a research note on Monday, August 15th. The Goldman Sachs Group increased their price target on shares of NeoGenomics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, Piper Sandler increased their price target on shares of NeoGenomics from $13.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, NeoGenomics presently has an average rating of “Hold” and an average price target of $20.08.

About NeoGenomics

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NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

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