Allspring Global Investments Holdings LLC Reduces Stake in NeoGenomics, Inc. (NASDAQ:NEO)

Allspring Global Investments Holdings LLC reduced its position in NeoGenomics, Inc. (NASDAQ:NEO) by 25.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,677 shares of the medical research company’s stock after selling 7,363 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NeoGenomics were worth $320,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NEO. Susquehanna Fundamental Investments LLC acquired a new stake in NeoGenomics during the 1st quarter valued at $680,000. Edgestream Partners L.P. acquired a new stake in NeoGenomics during the 1st quarter valued at $1,894,000. Jennison Associates LLC grew its holdings in NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock valued at $16,532,000 after buying an additional 460,071 shares during the last quarter. Bellevue Group AG acquired a new stake in NeoGenomics during the 1st quarter valued at $14,872,000. Finally, First Light Asset Management LLC grew its holdings in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock valued at $52,464,000 after buying an additional 480,396 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Price Performance

NEO stock opened at $14.00 on Friday. NeoGenomics, Inc. has a 52-week low of $12.77 and a 52-week high of $21.22. The stock’s fifty day simple moving average is $14.80 and its 200-day simple moving average is $14.70. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -22.58 and a beta of 1.19.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of NeoGenomics in a report on Wednesday, September 25th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Stephens reiterated an “overweight” rating and set a $19.00 target price on shares of NeoGenomics in a report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.89.

About NeoGenomics

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.