Emerald Mutual Fund Advisers Trust Lowers Position in NeoGenomics, Inc. (NASDAQ:NEO)

Emerald Mutual Fund Advisers Trust reduced its position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 38.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 654,281 shares of the medical research company's stock after selling 413,119 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.51% of NeoGenomics worth $6,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in NeoGenomics by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,239,887 shares of the medical research company's stock worth $234,673,000 after purchasing an additional 195,793 shares in the last quarter. Greenhouse Funds LLLP increased its holdings in NeoGenomics by 5.3% during the 4th quarter. Greenhouse Funds LLLP now owns 4,701,897 shares of the medical research company's stock worth $77,487,000 after purchasing an additional 237,491 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NeoGenomics by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,436,858 shares of the medical research company's stock worth $56,645,000 after purchasing an additional 78,211 shares in the last quarter. First Light Asset Management LLC grew its holdings in shares of NeoGenomics by 3.0% in the fourth quarter. First Light Asset Management LLC now owns 3,167,585 shares of the medical research company's stock valued at $52,202,000 after acquiring an additional 91,030 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of NeoGenomics by 11.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,113,822 shares of the medical research company's stock valued at $34,836,000 after acquiring an additional 220,415 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

NeoGenomics Stock Performance

NASDAQ NEO traded down $0.23 on Friday, hitting $7.26. 1,041,292 shares of the stock traded hands, compared to its average volume of 1,304,272. The business's fifty day moving average is $7.51 and its two-hundred day moving average is $10.39. NeoGenomics, Inc. has a 12 month low of $6.08 and a 12 month high of $19.12. The firm has a market capitalization of $934.36 million, a price-to-earnings ratio of -11.90 and a beta of 1.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.95 and a current ratio of 2.05.

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

Insider Activity

In related news, Director Lynn A. Tetrault bought 7,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $8.14 per share, for a total transaction of $56,980.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $56,980. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Aaron Kelly bought 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were bought at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $38,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 70,600 shares of company stock valued at $550,438. 2.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on NEO. Guggenheim began coverage on NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating for the company. Piper Sandler set a $12.00 target price on NeoGenomics and gave the company an "overweight" rating in a report on Tuesday, May 6th. Leerink Partners lowered NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $25.00 to $9.00 in a 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 for the company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group reduced their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average 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.