Brown Advisory Inc. Sells 2,284,097 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Brown Advisory Inc. reduced its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 37.1% during the first quarter, according to its most recent Form 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 quarter.

Several other large investors have also recently modified their holdings of the stock. Swiss National Bank increased its position in shares of NeoGenomics by 1.0% in the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock valued at $4,155,000 after acquiring an additional 2,600 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in NeoGenomics by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock worth $19,139,000 after buying an additional 26,701 shares during the period. GAMMA Investing LLC boosted its position in NeoGenomics by 1,107.7% during 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of NeoGenomics during the 4th quarter worth approximately $453,000. Finally, Squarepoint Ops LLC bought a new position in shares of NeoGenomics in the 4th quarter worth approximately $276,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In related news, CEO Anthony P. Zook bought 18,900 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $7.88 per share, for a total transaction of $148,932.00. Following the purchase, the chief executive officer owned 18,900 shares in the company, valued at approximately $148,932. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen M. Kanovsky bought 4,000 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $7.78 per share, with a total value of $31,120.00. Following the completion of the purchase, the director owned 40,090 shares in the company, valued at approximately $311,900.20. The trade was a 11.08% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 70,600 shares of company stock worth $550,438 in the last 90 days. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEO. Piper Sandler set a $12.00 price target on NeoGenomics and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Leerink Partnrs lowered NeoGenomics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Needham & Company LLC reduced their target price on shares of NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley reduced their target price on shares of NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.83.

NeoGenomics Stock Down 0.5%

Shares of NASDAQ NEO traded down $0.04 during midday trading on Thursday, hitting $7.49. The stock had a trading volume of 1,112,361 shares, compared to its average volume of 1,300,668. The business's 50 day moving average is $7.51 and its 200-day moving average is $10.52. The company has a market cap of $963.96 million, a P/E ratio of -12.28 and a beta of 1.63. NeoGenomics, Inc. has a 52 week low of $6.08 and a 52 week high of $19.12. The company has a quick ratio of 1.95, a current ratio of 2.05 and a debt-to-equity ratio of 0.38.

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

About NeoGenomics

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.