NeoGenomics (NEO) stock plummeted 5.24% in intraday trading, as the company faced a series of analyst actions that raised concerns among investors. The sharp decline comes amid mixed signals from Wall Street, with some firms taking a more cautious stance on the genomic testing company's prospects.

The most significant factor contributing to the stock's decline was BTIG's decision to downgrade NeoGenomics from Buy to Hold (Neutral). This change in rating signals a shift in the firm's outlook on the company's near-term performance. Additionally, Stephens cut its price target for NeoGenomics dramatically, from $15 to $6.5, further dampening investor sentiment.

Despite the negative actions, not all analysts share the same pessimistic view. Craig-Hallum maintained its Buy rating on NeoGenomics with a price target of $12, suggesting potential upside from current levels. However, the overall average price target now stands at $8.14, according to FactSet, reflecting the mixed opinions among analysts. As NeoGenomics navigates these challenges, investors will be closely watching for any signs of improvement in the company's fundamentals that could potentially reverse the current downward trend.