NeoGenomics, Inc. (NEO) Short Interest Update

NeoGenomics, Inc. (NASDAQ:NEO) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 8,454,105 shares, a decline of 18.9% from the January 15th total of 10,429,700 shares. Based on an average daily volume of 1,066,954 shares, the short-interest ratio is presently 7.9 days. Currently, 9.6% of the company’s shares are short sold.

NeoGenomics stock opened at $16.71 on Tuesday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 278.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.13 and a quick ratio of 3.98. NeoGenomics has a 1 year low of $7.18 and a 1 year high of $19.04.

In related news, major shareholder Electric Co General sold 10,835,145 shares of NeoGenomics stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $12.00, for a total transaction of $130,021,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin C. Johnson purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were purchased at an average cost of $11.60 per share, with a total value of $301,600.00. Following the completion of the purchase, the director now owns 103,866 shares in the company, valued at approximately $1,204,845.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 10,994,272 shares of company stock valued at $132,661,716. 12.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NEO. Dimensional Fund Advisors LP lifted its position in shares of NeoGenomics by 28.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 752,853 shares of the medical research company’s stock worth $9,870,000 after purchasing an additional 165,451 shares during the period. Northern Trust Corp lifted its position in shares of NeoGenomics by 2.2% in the 2nd quarter. Northern Trust Corp now owns 998,807 shares of the medical research company’s stock worth $13,094,000 after purchasing an additional 21,293 shares during the period. Strs Ohio raised its stake in shares of NeoGenomics by 13.2% during the 3rd quarter. Strs Ohio now owns 300,000 shares of the medical research company’s stock worth $4,605,000 after acquiring an additional 35,000 shares in the last quarter. Howland Capital Management LLC raised its stake in shares of NeoGenomics by 39.8% during the 3rd quarter. Howland Capital Management LLC now owns 30,449 shares of the medical research company’s stock worth $467,000 after acquiring an additional 8,667 shares in the last quarter. Finally, Norris Perne & French LLP MI bought a new position in shares of NeoGenomics during the 3rd quarter worth approximately $5,149,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. Benchmark set a $22.00 price objective on shares of NeoGenomics and gave the company a “buy” rating in a research report on Thursday, November 1st. Craig Hallum boosted their price objective on shares of NeoGenomics from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Raymond James boosted their price objective on shares of NeoGenomics from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised shares of NeoGenomics from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research report on Saturday, November 3rd. Finally, BidaskClub raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.33.

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NeoGenomics Company Profile

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.

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