NeoGenomics, Inc. (NASDAQ:NEO) Position Lessened by Comerica Bank

Comerica Bank trimmed its position in shares of NeoGenomics, Inc. (NASDAQ:NEOGet Rating) by 2.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 98,618 shares of the medical research company’s stock after selling 2,765 shares during the quarter. Comerica Bank’s holdings in NeoGenomics were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in NeoGenomics by 56.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock worth $62,000 after buying an additional 662 shares during the last quarter. National Bank of Canada FI acquired a new position in NeoGenomics during the fourth quarter worth $126,000. Blume Capital Management Inc. grew its position in shares of NeoGenomics by 88.7% in the fourth quarter. Blume Capital Management Inc. now owns 3,830 shares of the medical research company’s stock valued at $131,000 after purchasing an additional 1,800 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of NeoGenomics in the fourth quarter valued at about $219,000. Finally, Wrapmanager Inc. grew its position in shares of NeoGenomics by 8.0% in the fourth quarter. Wrapmanager Inc. now owns 7,717 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 572 shares during the last quarter. 95.03% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $9.99 on Thursday. NeoGenomics, Inc. has a 1 year low of $6.85 and a 1 year high of $54.74. The firm has a 50 day moving average of $8.43 and a 200-day moving average of $13.89. The company has a current ratio of 7.93, a quick ratio of 7.64 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $1.25 billion, a P/E ratio of -31.22 and a beta of 0.85.

NeoGenomics (NASDAQ:NEOGet Rating) last posted its earnings results on Wednesday, April 27th. The medical research company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02). NeoGenomics had a negative net margin of 7.33% and a negative return on equity of 6.62%. The firm had revenue of $117.17 million during the quarter, compared to the consensus estimate of $116.44 million. During the same quarter last year, the firm posted ($0.06) EPS. The business’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NeoGenomics, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Cowen set a $17.00 price target on NeoGenomics in a research report on Tuesday, July 19th. Piper Sandler assumed coverage on NeoGenomics in a research report on Thursday, June 2nd. They issued an “overweight” rating and a $13.00 price target on the stock. Raymond James lowered their price target on NeoGenomics from $24.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. Morgan Stanley lowered their price target on NeoGenomics from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Finally, StockNews.com raised NeoGenomics to a “sell” rating in a research report on Saturday, July 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.

NeoGenomics Profile

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NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.

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Institutional Ownership by Quarter for NeoGenomics (NASDAQ:NEO)

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