Short Interest in NeoGenomics, Inc. (NASDAQ:NEO) Expands By 20.9%

NeoGenomics, Inc. (NASDAQ:NEO) was the target of a significant growth in short interest in 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. Currently, 3.3% of the company’s stock are sold short. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is presently 3.5 days.

Hedge Funds Weigh In On NeoGenomics

Several hedge funds have recently bought and sold shares of NEO. PNC Financial Services Group Inc. lifted its stake in shares of NeoGenomics by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,610 shares of the medical research company’s stock worth $257,000 after buying an additional 770 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of NeoGenomics by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,339 shares of the medical research company’s stock valued at $220,000 after buying an additional 863 shares during the period. FMR LLC lifted its position in shares of NeoGenomics by 7.6% in the 3rd quarter. FMR LLC now owns 13,255 shares of the medical research company’s stock worth $196,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. increased its position in shares of NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 1,103 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 1,142 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NEO shares. Benchmark cut shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. The Goldman Sachs Group reduced their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler dropped their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group began coverage on NeoGenomics in a research note on Tuesday, December 10th. They set a “buy” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and a consensus target price of $19.60.

NeoGenomics Stock Down 5.5 %

Shares of NeoGenomics stock opened at $8.91 on Thursday. NeoGenomics has a 1-year low of $8.86 and a 1-year high of $19.12. The company has a market capitalization of $1.14 billion, a P/E ratio of -14.37 and a beta of 1.28. The business’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $14.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $172.00 million for the quarter, compared to analyst estimates of $173.40 million. NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. As a group, 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.