American Century Companies Inc. Has $31.50 Million Stock Holdings in NeoGenomics, Inc. $NEO

Key Points

• American Century Companies Inc. increased its stake in NeoGenomics, Inc. by 14.7%, acquiring a total of 3,319,602 shares valued at approximately $31.5 million.
• Institutional ownership is significant, with 98.50% of NeoGenomics stock held by institutional investors and hedge funds, highlighting strong support from larger financial entities.
• Recent analyst ratings show a shift, with some firms downgrading NeoGenomics' stock from "strong-buy" to "hold," reflecting concerns about its future performance amid a target price reduction.

American Century Companies Inc. boosted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,319,602 shares of the medical research company's stock after acquiring an additional 426,341 shares during the period. American Century Companies Inc. owned approximately 2.58% of NeoGenomics worth $31,503,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Aberdeen Group plc acquired a new stake in NeoGenomics during the first quarter valued at approximately $3,920,000. Public Sector Pension Investment Board boosted its holdings in NeoGenomics by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 407,017 shares of the medical research company's stock valued at $3,863,000 after purchasing an additional 87,238 shares in the last quarter. Nuveen LLC acquired a new stake in NeoGenomics during the first quarter valued at approximately $3,281,000. Invesco Ltd. boosted its holdings in NeoGenomics by 5.4% during the first quarter. Invesco Ltd. now owns 433,163 shares of the medical research company's stock valued at $4,111,000 after purchasing an additional 22,196 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in NeoGenomics during the first quarter valued at approximately $95,000. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Trading Up 5.7%

NASDAQ:NEO traded up $0.38 during trading hours on Wednesday, hitting $7.08. 2,458,787 shares of the stock were exchanged, compared to its average volume of 2,452,673. The company's 50 day moving average is $6.55 and its two-hundred day moving average is $8.29. NeoGenomics, Inc. has a twelve month low of $4.72 and a twelve month high of $19.11. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $914.59 million, a P/E ratio of -8.74 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NEO shares. Needham & Company LLC decreased their price objective on NeoGenomics from $8.50 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Leerink Partners downgraded NeoGenomics from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. Morgan Stanley set a $8.00 target price on NeoGenomics and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Piper Sandler set a $11.00 target price on NeoGenomics and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Guggenheim began coverage on NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $12.75.

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.