Nuveen LLC Takes Position in NeoGenomics, Inc. $NEO

Key Points

• Nuveen LLC has acquired 345,690 shares of NeoGenomics, Inc., valued at approximately $3.28 million, during the first quarter.
• Several institutional investors, including Segall Bryant & Hamill LLC and Royce & Associates LP, have significantly increased their stakes in NeoGenomics.
• NeoGenomics stock has seen a recent price adjustment by analysts, with Needham & Company lowering its price target from $8.50 to $8.00 while maintaining a "buy" rating.

Nuveen LLC purchased a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 345,690 shares of the medical research company's stock, valued at approximately $3,281,000. Nuveen LLC owned approximately 0.27% of NeoGenomics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. CWM LLC boosted its position in NeoGenomics by 42.6% during the first quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after purchasing an additional 1,883 shares in the last quarter. NewEdge Advisors LLC boosted its position in NeoGenomics by 15.9% during the fourth quarter. NewEdge Advisors LLC now owns 18,622 shares of the medical research company's stock worth $307,000 after purchasing an additional 2,558 shares in the last quarter. MetLife Investment Management LLC increased its stake in NeoGenomics by 3.5% during the 4th quarter. MetLife Investment Management LLC now owns 77,403 shares of the medical research company's stock worth $1,276,000 after buying an additional 2,596 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NeoGenomics by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,544 shares of the medical research company's stock worth $1,196,000 after buying an additional 2,724 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NeoGenomics by 11.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,156 shares of the medical research company's stock worth $353,000 after buying an additional 3,909 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

NeoGenomics Price Performance

NEO traded up $1.57 during trading on Friday, reaching $8.78. The company's stock had a trading volume of 9,452,023 shares, compared to its average volume of 2,068,656. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $6.59 and a two-hundred day simple moving average of $8.18. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year high of $19.11. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -10.84 and a beta of 1.54.

Analyst Ratings Changes

Several equities research analysts have commented on NEO shares. BTIG Research reiterated a "neutral" rating on shares of NeoGenomics in a research note on Wednesday, July 30th. Guggenheim started coverage on NeoGenomics in a research note on Thursday, May 15th. They set a "neutral" rating for the company. Piper Sandler set a $11.00 price objective on NeoGenomics and gave the stock an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC boosted their price objective on NeoGenomics from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.50.

NeoGenomics Company 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.