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

NeoGenomics, Inc. (NASDAQ:NEO – Get Rating) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 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 days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of NeoGenomics

A number of institutional investors have recently made changes to their positions in the company. Assenagon Asset Management SA boosted its stake in NeoGenomics by 5,912.2% during the second quarter. Assenagon Asset Management SA now owns 3,611,674 shares of the medical research company’s stock worth $29,435,000 after buying an additional 3,551,602 shares during the last quarter. Point72 Asset Management LP acquired a new position in shares of NeoGenomics in the 2nd quarter valued at $16,915,000. Federated Hermes Inc. lifted its stake in shares of NeoGenomics by 288.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,676,036 shares of the medical research company’s stock valued at $21,810,000 after purchasing an additional 1,986,369 shares during the last quarter. First Light Asset Management LLC lifted its stake in shares of NeoGenomics by 236.9% in the 2nd 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 purchasing an additional 1,909,529 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of NeoGenomics by 21.7% in the 2nd quarter. Brown Advisory Inc. now owns 5,569,547 shares of the medical research company’s stock valued at $45,392,000 after purchasing an additional 994,490 shares during the last quarter. 92.75% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Down 5.6%

Shares of NEO stock opened at $9.97 on Monday. The stock has a 50 day moving average of $10.22 and a 200 day moving average of $10.80. The company has a current ratio of 7.53, a quick ratio of 7.26 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.25 billion, a P/E ratio of -8.38 and a beta of 0.93. NeoGenomics has a twelve month low of $6.85 and a twelve month high of $54.74.

NeoGenomics (NASDAQ:NEO – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The medical research company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.06. The business had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $123.26 million. NeoGenomics had a negative return on equity of 8.53% and a negative net margin of 30.00%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, sell-side analysts expect that NeoGenomics will post -1.03 EPS for the current year.

About NeoGenomics

(Get Rating)

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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