Renaissance Technologies LLC Takes Position in NeoGenomics, Inc. $NEO

Renaissance Technologies LLC bought a new stake in shares of NeoGenomics, Inc. (NASDAQ:NEO) during the 1st quarter, Holdings Channel.com reports. The firm bought 254,172 shares of the medical research company’s stock, valued at approximately $1,886,000.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp increased its holdings in NeoGenomics by 52.6% in the 4th quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 865 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of NeoGenomics during the second quarter worth about $32,000. Caitong International Asset Management Co. Ltd boosted its position in shares of NeoGenomics by 110.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after buying an additional 1,556 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of NeoGenomics in the fourth quarter worth about $39,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of NeoGenomics by 77.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock valued at $42,000 after buying an additional 1,515 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

NeoGenomics Trading Down 0.6%

NEO opened at $16.53 on Wednesday. NeoGenomics, Inc. has a 12-month low of $5.78 and a 12-month high of $16.92. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.60 and a quick ratio of 3.35. The stock has a market capitalization of $2.12 billion, a PE ratio of -41.33 and a beta of 1.74. The firm’s fifty day moving average price is $13.65 and its 200 day moving average price is $10.87.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings data on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $201.66 million during the quarter, compared to analyst estimates of $196.93 million. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. As a group, research analysts expect that NeoGenomics, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of NeoGenomics stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $11.29, for a total value of $59,916.03. Following the completion of the transaction, the director directly owned 91,422 shares in the company, valued at approximately $1,032,154.38. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NEO shares. Zacks Research upgraded NeoGenomics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Wall Street Zen raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Finally, Benchmark upped their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.71.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.