Aberdeen Group plc Takes Position in NeoGenomics, Inc. $NEO

Key Points

• Aberdeen Group plc acquired 413,098 shares of NeoGenomics, Inc., valued at approximately $3.92 million, indicating enhanced institutional interest in the company.
• Other institutional investors, including CWM LLC and Sterling Capital Management LLC, have also significantly increased their stakes in NeoGenomics during recent quarters.
• NeoGenomics stock has experienced a 12-month low of $4.72 and a high of $19.11, with a current trading price of $6.10.

Aberdeen Group plc 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 and Exchange Commission (SEC). The fund purchased 413,098 shares of the medical research company's stock, valued at approximately $3,920,000. Aberdeen Group plc owned 0.32% of NeoGenomics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. CWM LLC lifted its holdings in NeoGenomics by 42.6% during the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after buying an additional 1,883 shares during the period. Sterling Capital Management LLC lifted its stake in shares of NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock worth $61,000 after acquiring an additional 3,289 shares during the period. Moors & Cabot Inc. bought a new stake in NeoGenomics in the first quarter valued at approximately $95,000. Teacher Retirement System of Texas acquired a new stake in NeoGenomics during the 1st quarter valued at approximately $178,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in NeoGenomics during the 4th quarter valued at approximately $183,000. Institutional investors own 98.50% of the company's stock.

Insider Buying and Selling at NeoGenomics

In other NeoGenomics news, Director Michael Aaron Kelly purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average price of $7.60 per share, with a total value of $38,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at $38,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

NeoGenomics Stock Performance

Shares of NEO stock opened at $6.10 on Thursday. The company has a current ratio of 3.92, a quick ratio of 3.58 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $6.60 and a two-hundred day simple moving average of $8.54. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $19.11. The firm has a market capitalization of $787.99 million, a PE ratio of -7.53 and a beta of 1.54.

Analyst Upgrades and Downgrades

NEO has been the subject of several research analyst reports. Guggenheim initiated coverage on NeoGenomics in a research report on Thursday, May 15th. They issued a "neutral" rating for the company. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. BTIG Research reiterated a "neutral" rating on shares of NeoGenomics in a research note on Wednesday, July 30th. Finally, Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $25.00 to $9.00 in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.75.

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.

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