SG Americas Securities LLC lifted its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 200.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,507 shares of the medical research company’s stock after purchasing an additional 29,697 shares during the quarter. SG Americas Securities LLC’s holdings in NeoGenomics were worth $2,396,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEO. Candriam Luxembourg S.C.A. raised its position in shares of NeoGenomics by 747.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 296,528 shares of the medical research company’s stock worth $15,966,000 after purchasing an additional 261,545 shares during the period. Perkins Capital Management Inc. bought a new position in shares of NeoGenomics during the third quarter worth about $7,360,000. Cubist Systematic Strategies LLC bought a new position in shares of NeoGenomics during the third quarter worth about $2,774,000. Voloridge Investment Management LLC grew its holdings in shares of NeoGenomics by 572.1% during the third quarter. Voloridge Investment Management LLC now owns 82,891 shares of the medical research company’s stock worth $3,058,000 after buying an additional 70,557 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of NeoGenomics by 6.7% during the third quarter. Wells Fargo & Company MN now owns 957,030 shares of the medical research company’s stock worth $35,305,000 after buying an additional 59,960 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors.
NEO has been the subject of a number of research reports. Needham & Company LLC increased their price objective on NeoGenomics from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. SVB Leerink increased their price objective on NeoGenomics from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, January 8th. Truist began coverage on NeoGenomics in a report on Wednesday, January 27th. They set a “buy” rating and a $65.00 price objective for the company. CIBC upgraded NeoGenomics to an “outperformer” rating and raised their price target for the company from $10.50 to $14.50 in a research note on Monday, October 26th. Finally, Craig Hallum raised their price target on NeoGenomics from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. NeoGenomics presently has a consensus rating of “Buy” and an average price target of $43.58.
In related news, Director Steven C. Jones sold 130,000 shares of NeoGenomics stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $48.55, for a total transaction of $6,311,500.00. Following the completion of the sale, the director now directly owns 72,932 shares of the company’s stock, valued at approximately $3,540,848.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William Bonello sold 8,000 shares of NeoGenomics stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $46.80, for a total value of $374,400.00. Following the sale, the insider now directly owns 20,060 shares of the company’s stock, valued at $938,808. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,809 shares of company stock valued at $14,338,460. 6.50% of the stock is currently owned by insiders.
NeoGenomics Company Profile
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company's laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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