Piper Sandler Has Lowered Expectations for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its price target reduced by analysts at Piper Sandler from $12.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. Piper Sandler’s target price suggests a potential upside of 95.73% from the company’s current price.

Several other analysts have also recently weighed in on NEO. The Goldman Sachs Group lowered their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Guggenheim initiated coverage on shares of NeoGenomics in a report on Thursday, May 15th. They set a “neutral” rating on the stock. Morgan Stanley set a $8.00 target price on shares of NeoGenomics and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Finally, Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.75.

NeoGenomics Stock Performance

NASDAQ NEO opened at $5.62 on Monday. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $19.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.92 and a quick ratio of 3.58. The stock has a market capitalization of $725.99 million, a PE ratio of -6.94 and a beta of 1.54. The company’s 50 day simple moving average is $6.95 and its two-hundred day simple moving average is $9.18.

Insider Activity

In related news, Director Michael Aaron Kelly acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $7.60 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $38,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Warren Stone acquired 5,700 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $8.58 per share, with a total value of $48,906.00. Following the completion of the acquisition, the chief operating officer directly owned 108,280 shares of the company’s stock, valued at $929,042.40. The trade was a 5.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 17,700 shares of company stock valued at $143,886 over the last three months. Insiders own 2.40% of the company’s stock.

Institutional Trading of NeoGenomics

Large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its position 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 worth $220,000 after purchasing an additional 863 shares during the period. CWM LLC boosted its position in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after purchasing an additional 1,883 shares during the period. NewEdge Advisors LLC boosted its position in shares of NeoGenomics by 15.9% in the fourth quarter. NewEdge Advisors LLC now owns 18,622 shares of the medical research company’s stock worth $307,000 after purchasing an additional 2,558 shares during the period. MetLife Investment Management LLC boosted its position in shares of NeoGenomics by 3.5% in the fourth quarter. MetLife Investment Management LLC now owns 77,403 shares of the medical research company’s stock worth $1,276,000 after purchasing an additional 2,596 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NeoGenomics by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,544 shares of the medical research company’s stock worth $1,196,000 after purchasing an additional 2,724 shares during the period. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

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.