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).

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