William Blair downgrades NeoGenomics, says rebuilding credibility will take time

As previously reported, William Blair downgraded NeoGenomics (NEO) to Market Perform from Outperform after the company reported Q2 results and cut its FY25 revenue and adjusted EBITDA view. While the firm views the company significantly lowering FY25 guidance as a step in beginning the process of trying to rebuild credibility with investors and is “highly encouraged by the new messaging,” it acknowledges that such efforts “take time to resonate and play out” and sees shares “struggling to fully regain their footing quickly.”