Deutsche Bank AG Trims Stake in NeoGenomics, Inc. $NEO

Key Points

• Deutsche Bank AG has significantly lowered its stake in NeoGenomics, Inc. by 95.7%, dropping from over 2.4 million shares to approximately 105,189 shares, valued at about $998,000.
• Institutional investors and hedge funds collectively own 98.50% of NeoGenomics' stock, indicating strong interest from larger investment entities in spite of Deutsche Bank's divestment.
• Wall Street analysts have reduced their ratings on NeoGenomics, with Leerink Partners lowering the price target from $25.00 to $9.00, while other analysts have set a current average target price of $12.75.

Deutsche Bank AG lessened its stake in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 95.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,189 shares of the medical research company's stock after selling 2,341,514 shares during the period. Deutsche Bank AG owned 0.08% of NeoGenomics worth $998,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. acquired a new position in NeoGenomics in the 1st quarter valued at about $95,000. Banque Cantonale Vaudoise acquired a new position in NeoGenomics in the 1st quarter valued at about $192,000. Federated Hermes Inc. increased its position in NeoGenomics by 10.9% in the 1st quarter. Federated Hermes Inc. now owns 161,428 shares of the medical research company's stock valued at $1,532,000 after acquiring an additional 15,887 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 purchasing an additional 3,909 shares during the period. Finally, Royce & Associates LP increased its position in NeoGenomics by 27.0% during the 1st quarter. Royce & Associates LP now owns 858,046 shares of the medical research company's stock worth $8,143,000 after purchasing an additional 182,180 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NEO shares. BTIG Research reiterated a "neutral" rating on shares of NeoGenomics in a research report on Wednesday, July 30th. Needham & Company LLC boosted their target price on NeoGenomics from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley set a $8.00 target price on NeoGenomics and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, William Blair reiterated a "market perform" rating on shares of NeoGenomics in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, NeoGenomics has an average rating of "Hold" and an average target price of $13.50.

NeoGenomics Price Performance

Shares of NASDAQ:NEO traded up $1.57 during trading on Friday, hitting $8.78. 9,452,023 shares of the stock were exchanged, compared to its average volume of 2,068,656. The company has a fifty day moving average price of $6.59 and a two-hundred day moving average price of $8.18. The company has a market cap of $1.13 billion, a PE ratio of -10.84 and a beta of 1.54. The company has a current ratio of 3.92, a quick ratio of 3.58 and a debt-to-equity ratio of 0.40. NeoGenomics, Inc. has a 12-month low of $4.72 and a 12-month high of $19.11.

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.