Point72 Asset Management L.P. Has $14.31 Million Stock Position in NeoGenomics, Inc. (NASDAQ:NEO)

Point72 Asset Management L.P. lessened its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 53.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,031,608 shares of the medical research company’s stock after selling 1,165,943 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.81% of NeoGenomics worth $14,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Blue Trust Inc. raised its stake in NeoGenomics by 107.2% during the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company’s stock worth $32,000 after acquiring an additional 1,206 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of NeoGenomics during the second quarter worth $57,000. PNC Financial Services Group Inc. boosted its holdings in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 1,791 shares in the last quarter. Banque Cantonale Vaudoise grew its position in NeoGenomics by 6.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after acquiring an additional 993 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new position in NeoGenomics in the 1st quarter worth about $283,000. Institutional investors own 98.50% of the company’s stock.

NeoGenomics Stock Performance

Shares of NEO opened at $14.75 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $14.92. NeoGenomics, Inc. has a 12 month low of $11.03 and a 12 month high of $21.22. The stock has a market capitalization of $1.88 billion, a P/E ratio of -22.67 and a beta of 1.19.

NeoGenomics (NASDAQ:NEO) last announced its earnings results on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. The company had revenue of $164.50 million for the quarter, compared to analyst estimates of $161.82 million. NeoGenomics had a negative return on equity of 2.72% and a negative net margin of 12.50%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, analysts predict that NeoGenomics, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NEO. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research note on Tuesday, September 24th. Stephens reaffirmed an “overweight” rating and set a $19.00 price target on shares of NeoGenomics in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, NeoGenomics has an average rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.