Gabelli Funds LLC Grows Stock Holdings in NeoGenomics, Inc. $NEO

Key Points

• Gabelli Funds LLC significantly increased its holdings in NeoGenomics, boosting their stake by 607.1% to 99,000 shares, valued at approximately $940,000.
• A majority of the company's stock, 98.50%, is owned by institutional investors and hedge funds, reflecting notable interest in NeoGenomics.
• Wall Street analysts have a mixed outlook on the stock, with an average rating of "Hold" and a target price of $13.50, while some analysts set specific price objectives ranging from $8.00 to $11.00.

Gabelli Funds LLC raised its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 607.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 99,000 shares of the medical research company's stock after acquiring an additional 85,000 shares during the period. Gabelli Funds LLC owned approximately 0.08% of NeoGenomics worth $940,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NEO. Samjo Management LLC bought a new position in NeoGenomics during the first quarter valued at approximately $5,970,000. American Century Companies Inc. raised its stake in NeoGenomics by 14.7% during the 1st quarter. American Century Companies Inc. now owns 3,319,602 shares of the medical research company's stock valued at $31,503,000 after buying an additional 426,341 shares during the last quarter. Aberdeen Group plc bought a new position in shares of NeoGenomics during the 1st quarter valued at $3,920,000. Nuveen LLC purchased a new position in shares of NeoGenomics in the 1st quarter worth $3,281,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of NeoGenomics by 11.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 2,350,746 shares of the medical research company's stock worth $22,309,000 after buying an additional 236,924 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Guggenheim started coverage on NeoGenomics in a research report on Thursday, May 15th. They set a "neutral" rating for the company. BTIG Research restated a "neutral" rating on shares of NeoGenomics in a research report on Wednesday, July 30th. Morgan Stanley set a $8.00 price target 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 research report on Monday, August 4th. Finally, Stephens boosted their target price on shares of NeoGenomics from $6.50 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.22.

NeoGenomics Stock Down 2.3%

Shares of NeoGenomics stock traded down $0.19 during trading hours on Thursday, hitting $8.01. The company had a trading volume of 1,520,603 shares, compared to its average volume of 2,018,350. NeoGenomics, Inc. has a twelve month low of $4.72 and a twelve month high of $19.11. The company has a market cap of $1.03 billion, a P/E ratio of -9.87 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.92 and a quick ratio of 3.58. The company's 50-day moving average is $6.68 and its two-hundred day moving average is $8.10.

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.