Graham Capital Management L.P. Acquires 51,626 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Graham Capital Management L.P. raised its holdings in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 467.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,669 shares of the medical research company's stock after buying an additional 51,626 shares during the period. Graham Capital Management L.P.'s holdings in NeoGenomics were worth $1,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEO. Swiss National Bank increased its stake in shares of NeoGenomics by 1.0% during the fourth quarter. Swiss National Bank now owns 252,100 shares of the medical research company's stock worth $4,155,000 after purchasing an additional 2,600 shares during the period. Jennison Associates LLC increased its stake in shares of NeoGenomics by 18.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock worth $24,963,000 after purchasing an additional 238,288 shares during the period. Rhumbline Advisers increased its stake in shares of NeoGenomics by 2.4% during the fourth quarter. Rhumbline Advisers now owns 389,003 shares of the medical research company's stock worth $6,411,000 after purchasing an additional 9,098 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of NeoGenomics by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,161,352 shares of the medical research company's stock worth $19,139,000 after purchasing an additional 26,701 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its stake in shares of NeoGenomics by 16.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 56,000 shares of the medical research company's stock worth $923,000 after purchasing an additional 8,000 shares during the period. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NEO. Needham & Company LLC lowered their target price on NeoGenomics from $18.00 to $8.50 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Leerink Partners lowered 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 research note on Wednesday, April 30th. The Goldman Sachs Group lowered their price objective on NeoGenomics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler set a $12.00 price objective on NeoGenomics and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley lowered their price objective on NeoGenomics from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.83.

Insider Activity at NeoGenomics

In other news, CFO Jeffrey Scott Sherman acquired 20,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $7.51 per share, with a total value of $150,200.00. Following the acquisition, the chief financial officer now directly owns 158,494 shares in the company, valued at $1,190,289.94. The trade was a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen M. Kanovsky acquired 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $7.78 per share, for a total transaction of $31,120.00. Following the acquisition, the director now owns 40,090 shares in the company, valued at $311,900.20. This represents a 11.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 65,600 shares of company stock valued at $512,438 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

NeoGenomics Trading Down 1.8%

Shares of NEO stock opened at $8.36 on Wednesday. The stock's fifty day moving average price is $9.14 and its two-hundred day moving average price is $13.01. The company has a market cap of $1.08 billion, a PE ratio of -13.48 and a beta of 1.60. NeoGenomics, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $19.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The business had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period in the prior year, the business posted ($0.02) EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

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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