NeoGenomics (NASDAQ:NEO) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of NeoGenomics (NASDAQ:NEO – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the medical research company’s stock.

Several other research analysts also recently weighed in on the stock. Cowen upped their target price on shares of NeoGenomics from $14.00 to $20.00 and gave the stock an outperform rating in a report on Friday, February 24th. Raymond James upped their target price on shares of NeoGenomics from $12.00 to $19.00 and gave the stock an outperform rating in a report on Friday, February 24th. Morgan Stanley upped their target price on shares of NeoGenomics from $17.00 to $18.00 and gave the stock an equal weight rating in a report on Friday, February 24th. Piper Sandler upped their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an overweight rating in a report on Friday, March 3rd. Finally, Benchmark upgraded shares of NeoGenomics from a hold rating to a buy rating and set a $20.00 price target on the stock in a research note on Friday, February 24th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $19.33.

NeoGenomics Trading Down 6.7 %

Shares of NeoGenomics stock opened at $18.14 on Thursday. The company has a market capitalization of $2.31 billion, a P/E ratio of -15.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.46 and a current ratio of 6.73. The company has a fifty day moving average of $13.87 and a 200 day moving average of $10.97. NeoGenomics has a fifty-two week low of $6.00 and a fifty-two week high of $19.51.

Institutional Trading of NeoGenomics

Several hedge funds have recently made changes to their positions in NEO. Point72 Asset Management L.P. purchased a new stake in shares of NeoGenomics during the 2nd quarter valued at about $16,915,000. Federated Hermes Inc. raised its position in NeoGenomics by 288.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,676,036 shares of the medical research company’s stock worth $21,810,000 after purchasing an additional 1,986,369 shares during the period. Millennium Management LLC raised its position in NeoGenomics by 293.9% in the 4th quarter. Millennium Management LLC now owns 2,657,477 shares of the medical research company’s stock worth $24,555,000 after purchasing an additional 1,982,840 shares during the period. First Light Asset Management LLC raised its position in 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 worth $22,131,000 after purchasing an additional 1,909,529 shares during the period. Finally, Norges Bank purchased a new stake in NeoGenomics in the 4th quarter worth about $13,090,000. 88.15% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

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NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.