NeoGenomics Inc (NEO)
NeoGenomics, Inc. operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. The company is headquartered in Fort Myers, Florida.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 46.73% per annum.
- NEO price at the close of May 13, 2024 was $15.63 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.33% per annum.
- NEO price at the close of May 13, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of NEO price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: April 22, 2022
End date: April 9, 2024
a = 1.0444
b = 0.0011
s = 0.1853
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 46.73%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1853) – 1
= 109.84%
April 22, 2022 calculations
Top border of price channel:
Exp(Y742)
= Exp(a + b × X742 + 2 × s)
= Exp(a + b × 1,074 + 2 × s)
= Exp(1.0444 + 0.0011 × 1,074 + 2 × 0.1853)
= Exp(2.5432)
= $12.72
Bottom border of price channel:
Exp(Y742)
= Exp(a + b × X742 – 2 × s)
= Exp(a + b × 1,074 – 2 × s)
= Exp(1.0444 + 0.0011 × 1,074 – 2 × 0.1853)
= Exp(1.8021)
= $6.06
April 9, 2024 calculations
Top border of price channel:
Exp(Y1,234)
= Exp(a + b × X1,234 + 2 × s)
= Exp(a + b × 1,792 + 2 × s)
= Exp(1.0444 + 0.0011 × 1,792 + 2 × 0.1853)
= Exp(3.2975)
= $27.05
Bottom border of price channel:
Exp(Y1,234)
= Exp(a + b × X1,234 – 2 × s)
= Exp(a + b × 1,792 – 2 × s)
= Exp(1.0444 + 0.0011 × 1,792 – 2 × 0.1853)
= Exp(2.5564)
= $12.89
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 46.73% per annum.
- NEO price at the close of May 13, 2024 was $15.63 and was inside the primary price channel.
Secondary Trend
Start date: February 23, 2023
End date: May 13, 2024
a = 3.1366
b = -0.0002
s = 0.1170
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -8.33%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1170) – 1
= 59.70%
February 23, 2023 calculations
Top border of price channel:
Exp(Y952)
= Exp(a + b × X952 + 2 × s)
= Exp(a + b × 1,381 + 2 × s)
= Exp(3.1366 + -0.0002 × 1,381 + 2 × 0.1170)
= Exp(3.0416)
= $20.94
Bottom border of price channel:
Exp(Y952)
= Exp(a + b × X952 – 2 × s)
= Exp(a + b × 1,381 – 2 × s)
= Exp(3.1366 + -0.0002 × 1,381 – 2 × 0.1170)
= Exp(2.5734)
= $13.11
May 13, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(3.1366 + -0.0002 × 1,826 + 2 × 0.1170)
= Exp(2.9355)
= $18.83
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(3.1366 + -0.0002 × 1,826 – 2 × 0.1170)
= Exp(2.4674)
= $11.79
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 8.33% per annum.
- NEO price at the close of May 13, 2024 was inside the secondary price channel.