First Light Asset Management LLC Has $72.20 Million Position in NeoGenomics, Inc. $NEO

First Light Asset Management LLC trimmed its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 3.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,729,978 shares of the medical research company’s stock after selling 305,085 shares during the period. NeoGenomics makes up approximately 6.5% of First Light Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. First Light Asset Management LLC owned about 7.47% of NeoGenomics worth $72,196,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NEO. First Horizon Corp lifted its stake in NeoGenomics by 52.6% during the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after purchasing an additional 865 shares during the last quarter. Headlands Technologies LLC bought a new position in NeoGenomics in the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd grew its position in 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 valued at $35,000 after acquiring an additional 1,556 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in NeoGenomics during the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC raised its stake in NeoGenomics by 68.2% during the fourth quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company’s stock worth $42,000 after acquiring an additional 1,460 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Activity at NeoGenomics

In related news, Director Lynn A. Tetrault sold 5,307 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the sale, the director owned 91,422 shares of the company’s stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NEO has been the topic of a number of research analyst reports. Benchmark raised their price target on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Leerink Partners raised shares of NeoGenomics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. TD Cowen reiterated a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded NeoGenomics from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NeoGenomics currently has an average rating of “Hold” and a consensus price target of $14.57.

NeoGenomics Stock Performance

NeoGenomics stock opened at $13.89 on Monday. The business has a 50 day moving average of $12.19 and a 200-day moving average of $10.64. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year high of $15.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The company has a market capitalization of $1.81 billion, a P/E ratio of -18.04 and a beta of 1.74.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The business had revenue of $186.67 million for the quarter, compared to the consensus estimate of $184.54 million. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts predict that NeoGenomics, Inc. will post -0.15 earnings per share for the current year.

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.