NeoGenomics (NASDAQ:NEO) Shares Cross Above 50 Day Moving Average – Should You Sell?

NeoGenomics, Inc. (NASDAQ:NEO) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.75 and traded as high as $15.28. NeoGenomics shares last traded at $14.50, with a volume of 2,874,736 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen raised NeoGenomics from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings downgraded NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Benchmark raised NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, April 29th. TD Cowen increased their price objective on NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Leerink Partners raised NeoGenomics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $25.00 in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NeoGenomics currently has an average rating of “Hold” and an average price target of $13.86.

NeoGenomics Trading Down 4.4%

The company has a quick ratio of 4.06, a current ratio of 4.42 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.89 billion, a PE ratio of -18.83 and a beta of 1.74. The business’s 50-day moving average is $10.75 and its two-hundred day moving average is $10.44.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $186.67 million during the quarter, compared to analysts’ expectations of $184.54 million. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.NeoGenomics’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts anticipate that NeoGenomics, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at NeoGenomics

In other news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the transaction, the director directly owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NeoGenomics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Corp boosted its holdings in NeoGenomics by 52.6% during the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after buying an additional 865 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of NeoGenomics in the second quarter valued at $32,000. Caitong International Asset Management Co. Ltd lifted its position in shares of NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 1,556 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of NeoGenomics during the 4th quarter worth $39,000. Finally, GAMMA Investing LLC boosted its stake in shares of NeoGenomics by 68.2% during the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after acquiring an additional 1,460 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.