Samjo Management LLC Purchases New Position in NeoGenomics, Inc. $NEO

Key Points

• Samjo Management LLC purchased 629,080 shares of NeoGenomics, Inc. for approximately $5.97 million, making it the firm's 11th largest holding.
• Several institutional investors, including Allspring Global Investments and GAMMA Investing LLC, significantly altered their positions in NeoGenomics during the 1st quarter, indicating a growing interest in the stock.
• Analysts have set a consensus price target of $12.75 for NeoGenomics, with the company receiving a mix of ratings, including four "buy" and eight "hold" ratings.

Samjo Management LLC acquired a new position in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 629,080 shares of the medical research company's stock, valued at approximately $5,970,000. NeoGenomics makes up about 2.5% of Samjo Management LLC's investment portfolio, making the stock its 11th largest holding. Samjo Management LLC owned about 0.49% of NeoGenomics at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NEO. Allspring Global Investments Holdings LLC lifted its stake in shares of NeoGenomics by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,461 shares of the medical research company's stock valued at $318,000 after purchasing an additional 11,733 shares during the period. GAMMA Investing LLC grew its position in shares of NeoGenomics by 1,107.7% during the 1st quarter. GAMMA Investing LLC now owns 17,765 shares of the medical research company's stock valued at $1,872,000 after acquiring an additional 16,294 shares during the period. Squarepoint Ops LLC purchased a new position in shares of NeoGenomics in the 4th quarter valued at about $276,000. Northern Trust Corp increased its stake in shares of NeoGenomics by 7.4% in the 4th quarter. Northern Trust Corp now owns 1,621,809 shares of the medical research company's stock valued at $26,727,000 after purchasing an additional 111,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in NeoGenomics by 2.3% during the fourth 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. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NEO shares. William Blair reaffirmed a "market perform" rating on shares of NeoGenomics in a research note on Tuesday, July 29th. Needham & Company LLC cut their target price on shares of NeoGenomics from $8.50 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Leerink Partners cut NeoGenomics from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $25.00 to $9.00 in a report on Wednesday, April 30th. Piper Sandler set a $11.00 target price on NeoGenomics and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Guggenheim started coverage on NeoGenomics in a research note on Thursday, May 15th. They issued a "neutral" rating on the stock. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.75.

Insider Transactions at NeoGenomics

In other NeoGenomics news, Director Michael Aaron Kelly bought 5,000 shares of NeoGenomics 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 completion of the transaction, the director directly owned 5,000 shares of the company's stock, valued at $38,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

NeoGenomics Stock Up 7.0%

NEO stock opened at $6.61 on Friday. NeoGenomics, Inc. has a one year low of $4.72 and a one year high of $19.11. The firm has a market cap of $853.88 million, a PE ratio of -8.16 and a beta of 1.54. The firm's 50 day moving average price is $6.57 and its 200-day moving average price is $8.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.58 and a current ratio of 3.92.

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.

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