NeoGenomics, Inc. $NEO Stake Trimmed by Tudor Investment Corp ET AL

Key Points

• Tudor Investment trimmed its NeoGenomics stake by 46%, selling 320,361 shares and leaving it with 375,351 shares (about 0.29% of the company) worth roughly $2.9 million at quarter-end.
• Other institutional investors were active in the quarter—First Light Asset Management raised its holding to 9.93 million shares (≈$76.6M) and several funds increased positions—leaving institutional ownership at about 98.5%, while COO Warren Stone sold 22,128 shares and insiders now own ~2.4%.
• Analysts have a consensus "Hold" rating with a $11.86 target; NeoGenomics beat Q (EPS $0.06 vs. $0.04 est., revenue $190.17M vs. $188.25M) but still shows a negative net margin and a negative P/E, and the stock trades near $7.69 (market cap ~$1.0B).

Tudor Investment Corp ET AL cut its position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 46.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 375,351 shares of the medical research company's stock after selling 320,361 shares during the quarter. Tudor Investment Corp ET AL owned 0.29% of NeoGenomics worth $2,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Light Asset Management LLC raised its holdings in shares of NeoGenomics by 45.0% during the third quarter. First Light Asset Management LLC now owns 9,927,269 shares of the medical research company's stock valued at $76,639,000 after acquiring an additional 3,080,837 shares during the period. Greenhouse Funds LLLP lifted its position in shares of NeoGenomics by 10.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 8,220,657 shares of the medical research company's stock valued at $63,463,000 after acquiring an additional 789,510 shares in the last quarter. American Capital Management Inc. boosted its stake in NeoGenomics by 120.9% in the 3rd quarter. American Capital Management Inc. now owns 2,345,263 shares of the medical research company's stock worth $18,105,000 after purchasing an additional 1,283,390 shares during the period. Glenmede Investment Management LP grew its position in NeoGenomics by 44.9% during the 3rd quarter. Glenmede Investment Management LP now owns 1,561,790 shares of the medical research company's stock worth $12,057,000 after purchasing an additional 484,005 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in NeoGenomics by 17.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,234,870 shares of the medical research company's stock worth $9,533,000 after purchasing an additional 181,072 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research lowered NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. TD Cowen reissued a "buy" rating on shares of NeoGenomics in a research report on Monday, March 16th. William Blair reissued a "market perform" rating on shares of NeoGenomics in a research note on Monday, March 16th. Piper Sandler raised their price objective on NeoGenomics from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 24th. Finally, Benchmark reaffirmed a "hold" rating on shares of NeoGenomics in a research note on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $11.86.

Insider Activity

In related news, COO Warren Stone sold 22,128 shares of the business's stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.50, for a total value of $276,600.00. Following the completion of the sale, the chief operating officer owned 121,631 shares of the company's stock, valued at approximately $1,520,387.50. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

NeoGenomics Trading Down 3.1%

NeoGenomics stock opened at $7.69 on Friday. The company has a quick ratio of 3.94, a current ratio of 4.26 and a debt-to-equity ratio of 0.41. NeoGenomics, Inc. has a 12 month low of $4.72 and a 12 month high of $13.74. The company's fifty day simple moving average is $9.29 and its 200-day simple moving average is $10.44. The stock has a market cap of $1.00 billion, a P/E ratio of -9.15 and a beta of 1.72.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The medical research company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. NeoGenomics had a negative return on equity of 3.10% and a negative net margin of 14.85%.The firm had revenue of $190.17 million during the quarter, compared to analysts' expectations of $188.25 million. During the same quarter last year, the firm earned $0.04 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

NeoGenomics Profile

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

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