First Light Asset Management LLC Has $179.16 Million Position in NeoGenomics, Inc. $NEO

First Light Asset Management LLC raised its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,279,523 shares of the medical research company’s stock after acquiring an additional 2,549,545 shares during the period. NeoGenomics makes up 10.9% of First Light Asset Management LLC’s holdings, making the stock its largest position. First Light Asset Management LLC owned approximately 0.10% of NeoGenomics worth $179,158,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Entropy Technologies LP increased its holdings in shares of NeoGenomics by 6.9% during the fourth quarter. Entropy Technologies LP now owns 23,037 shares of the medical research company’s stock valued at $271,000 after purchasing an additional 1,480 shares during the period. Smartleaf Asset Management LLC lifted its holdings in NeoGenomics by 77.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,466 shares of the medical research company’s stock worth $42,000 after purchasing an additional 1,515 shares during the period. MetLife Investment Management LLC lifted its holdings in NeoGenomics by 2.2% in the fourth quarter. MetLife Investment Management LLC now owns 71,734 shares of the medical research company’s stock worth $844,000 after purchasing an additional 1,524 shares during the period. Caitong International Asset Management Co. Ltd grew its position in NeoGenomics by 110.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock valued at $35,000 after buying an additional 1,556 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in NeoGenomics by 12.7% during the 4th quarter. Moors & Cabot Inc. now owns 15,500 shares of the medical research company’s stock valued at $182,000 after buying an additional 1,750 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of NeoGenomics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Zacks Research raised NeoGenomics from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Benchmark upped their target price on NeoGenomics from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, July 29th. Finally, TD Cowen restated a “buy” rating on shares of NeoGenomics in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NeoGenomics has an average rating of “Moderate Buy” and an average target price of $17.67.

NeoGenomics Trading Up 0.6%

Shares of NEO opened at $17.66 on Thursday. The business’s 50-day moving average price is $15.82 and its 200 day moving average price is $11.66. The company has a current ratio of 3.60, a quick ratio of 3.35 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $2.27 billion, a P/E ratio of -44.15 and a beta of 1.75. NeoGenomics, Inc. has a 1-year low of $7.07 and a 1-year high of $19.76.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. NeoGenomics had a negative net margin of 6.77% and a negative return on equity of 1.99%. The business had revenue of $201.66 million for the quarter, compared to analyst estimates of $196.93 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that NeoGenomics, Inc. will post -0.09 earnings per share for the current 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.