NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 37.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,871,964 shares of the medical research company's stock after selling 2,284,097 shares during the quarter. Brown Advisory Inc. owned 3.01% of NeoGenomics worth $36,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss National Bank boosted its position in NeoGenomics by 1.0% during the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock worth $4,155,000 after purchasing an additional 2,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of NeoGenomics by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock valued at $19,139,000 after acquiring an additional 26,701 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of NeoGenomics by 1,107.7% in the 1st quarter. GAMMA Investing LLC now owns 17,765 shares of the medical research company's stock valued at $1,872,000 after acquiring an additional 16,294 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in NeoGenomics during the 4th quarter worth $453,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of NeoGenomics in the fourth quarter valued at $276,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Down 2.7%

Shares of NeoGenomics stock traded down $0.21 during midday trading on Friday, hitting $7.29. The company had a trading volume of 407,261 shares, compared to its average volume of 1,299,922. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.95 and a current ratio of 2.05. The stock has a market capitalization of $937.54 million, a P/E ratio of -11.90 and a beta of 1.63. The company has a 50 day moving average of $7.52 and a 200 day moving average of $10.46. NeoGenomics, Inc. has a 52-week low of $6.08 and a 52-week high of $19.12.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $168.04 million for the quarter, compared to the consensus estimate of $171.38 million. NeoGenomics had a negative net margin of 11.54% and a negative return on equity of 2.21%. NeoGenomics's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, equities analysts predict that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NeoGenomics news, COO Warren Stone purchased 5,700 shares of NeoGenomics stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $8.58 per share, for a total transaction of $48,906.00. Following the acquisition, the chief operating officer owned 108,280 shares in the company, valued at $929,042.40. This trade represents a 5.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Scott Sherman purchased 20,000 shares of NeoGenomics stock in a transaction dated Friday, May 2nd. The stock was acquired at an average price of $7.51 per share, with a total value of $150,200.00. Following the acquisition, the chief financial officer owned 158,494 shares in the company, valued at approximately $1,190,289.94. This represents a 14.44% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 70,600 shares of company stock worth $550,438. Insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NEO shares. Piper Sandler set a $12.00 price target on NeoGenomics and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group lowered their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $25.00 to $9.00 in a research report on Wednesday, April 30th. Morgan Stanley reduced their target price on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC lowered their price target on NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.83.

NeoGenomics 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.