NeoGenomics (NEO) Surges 9.1%: Is This an Indication of Further Gains?

NeoGenomics (NEO) shares ended the last trading session 9.1% higher at $13.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 29.7% loss over the past four weeks.The stock price surged after NeoGenomics announced a multi-year exclusive strategic partnership with Adaptive Biotechnologies Corporation to enhance minimal residual disease (MRD) monitoring options for patients with certain blood cancers. Under the deal, Adaptive's clonoSEQ, the only FDA-cleared NGS-based test for detecting MRD in lymphoid cancers, will be integrated with NeoGenomics’ COMPASS and CHART services. NEO’s personalized assessment tools for complex blood cancers offer a multi-modal testing approach. This collaboration aims to help oncologists deliver personalized treatment strategies by combining advanced MRD testing with real-time insights into disease progression and patient risk. The financial terms of the deal have not been disclosed.This operator of cancer-focused testing laboratories is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -33.3%. Revenues are expected to be $173.6 million, up 11.6% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For NeoGenomics, the consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NEO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>NeoGenomics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Ginkgo Bioworks Holdings, Inc. (DNA), closed the last trading session 3.4% lower at $8.56. Over the past month, DNA has returned -6%.For Ginkgo Bioworks, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.45. This represents a change of +59.7% from what the company reported a year ago. Ginkgo Bioworks currently has a Zacks Rank of #2 (Buy).Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NeoGenomics, Inc. (NEO): Free Stock Analysis Report Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks