Silverback Asset Management LLC Invests $1.55 Million in NeoGenomics, Inc. $NEO

Key Points

• Silverback Asset Management bought 201,313 shares of NeoGenomics in Q3, a new position worth about $1.55 million (roughly 0.16% ownership).
• COO Warren Stone sold 22,128 shares (a 15.39% reduction), while insiders own about 2.4% and institutional investors own roughly 98.5% of the stock.
• Analysts are mixed with a consensus "Hold" rating and an average target of $11.86; NeoGenomics recently beat quarterly revenue and EPS estimates but remains unprofitable with a negative net margin and a market cap near $1.02 billion.

Silverback Asset Management LLC bought a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 201,313 shares of the medical research company's stock, valued at approximately $1,554,000. Silverback Asset Management LLC owned approximately 0.16% of NeoGenomics as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in NeoGenomics by 51.2% in the first quarter. Royal Bank of Canada now owns 56,026 shares of the medical research company's stock valued at $532,000 after buying an additional 18,966 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of NeoGenomics during the first quarter worth approximately $271,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NeoGenomics by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 75,798 shares of the medical research company's stock worth $719,000 after buying an additional 3,254 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of NeoGenomics by 19.7% in the first quarter. Intech Investment Management LLC now owns 151,806 shares of the medical research company's stock valued at $1,441,000 after acquiring an additional 24,965 shares during the last quarter. Finally, Atria Investments Inc raised its stake in shares of NeoGenomics by 42.8% in the second quarter. Atria Investments Inc now owns 14,710 shares of the medical research company's stock valued at $108,000 after acquiring an additional 4,407 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NeoGenomics news, COO Warren Stone sold 22,128 shares of the company's stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $12.50, for a total transaction of $276,600.00. Following the transaction, the chief operating officer directly owned 121,631 shares in the company, valued at approximately $1,520,387.50. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NEO shares. UBS Group restated a "hold" rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Piper Sandler lifted their price objective on NeoGenomics from $12.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of NeoGenomics in a research note on Monday, December 29th. Zacks Research cut NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Finally, Needham & Company LLC raised their target price on NeoGenomics from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.86.

NeoGenomics Trading Down 1.3%

NEO stock opened at $7.88 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 twelve month low of $4.72 and a twelve month high of $13.74. The company has a market cap of $1.02 billion, a P/E ratio of -9.38 and a beta of 1.62. The business has a fifty day moving average of $11.21 and a 200-day moving average of $10.46.

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

NeoGenomics Company 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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