Public Sector Pension Investment Board Acquires 87,238 Shares of NeoGenomics, Inc. $NEO

Key Points

• The Public Sector Pension Investment Board increased its stake in NeoGenomics, Inc. by 27.3%, holding a total of 407,017 shares worth approximately $3.86 million as of the end of the last quarter.
• Substantial increases in holdings were reported by several institutional investors, with GAMMA Investing LLC boosting its position by 1,107.7% during the same period.
• The stock has faced rating adjustments from analysts, including a reduction of the price target by Needham & Company from $8.50 to $8.00, maintaining a "buy" rating.

Public Sector Pension Investment Board raised its stake in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 407,017 shares of the medical research company's stock after purchasing an additional 87,238 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of NeoGenomics worth $3,863,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its stake in NeoGenomics by 42.6% during the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock valued at $60,000 after purchasing an additional 1,883 shares during the last quarter. Sterling Capital Management LLC boosted its stake in NeoGenomics by 788.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock valued at $61,000 after purchasing an additional 3,289 shares during the last quarter. Moors & Cabot Inc. acquired a new position in NeoGenomics during the 1st quarter valued at about $95,000. Teacher Retirement System of Texas acquired a new position in NeoGenomics during the 1st quarter valued at about $178,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in NeoGenomics during the 4th quarter valued at about $183,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Buying and Selling

In other news, Director Michael Aaron Kelly acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average price of $7.60 per share, for a total transaction of $38,000.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $38,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

NeoGenomics Stock Performance

NeoGenomics stock traded up $0.43 during trading on Friday, hitting $6.61. The stock had a trading volume of 1,826,014 shares, compared to its average volume of 2,996,955. NeoGenomics, Inc. has a 1 year low of $4.72 and a 1 year 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 stock's 50 day moving average is $6.57 and its two-hundred day moving average is $8.36. The stock has a market cap of $853.88 million, a price-to-earnings ratio of -8.16 and a beta of 1.54.

Analyst Upgrades and Downgrades

NEO has been the topic of a number of research analyst reports. William Blair restated a "market perform" rating on shares of NeoGenomics in a research note on Tuesday, July 29th. Needham & Company LLC cut their target price on NeoGenomics from $8.50 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. The Goldman Sachs Group cut their target price on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.75.

NeoGenomics Company 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.