AlphaCrest Capital Management LLC Raises Stake in NeoGenomics, Inc. (NASDAQ:NEO)

AlphaCrest Capital Management LLC lifted its position in shares of NeoGenomics, Inc. (NASDAQ:NEO – Get Rating) by 125.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,612 shares of the medical research company’s stock after buying an additional 17,008 shares during the period. AlphaCrest Capital Management LLC’s holdings in NeoGenomics were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NEO. Ronald Blue Trust Inc. acquired a new position in NeoGenomics during the second quarter worth approximately $28,000. Quadrant Capital Group LLC boosted its holdings in NeoGenomics by 149.5% in the third quarter. Quadrant Capital Group LLC now owns 3,027 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 1,814 shares during the last quarter. Captrust Financial Advisors grew its position in NeoGenomics by 404.7% during the first quarter. Captrust Financial Advisors now owns 4,936 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 3,958 shares during the period. Security Benefit Life Insurance Co. KS acquired a new stake in NeoGenomics during the second quarter worth about $44,000. Finally, Bessemer Group Inc. purchased a new position in shares of NeoGenomics in the 3rd quarter worth about $69,000. Institutional investors and hedge funds own 88.15% of the company’s stock.

Wall Street Analysts Forecast Growth

NEO has been the subject of a number of research reports. Cowen decreased their target price on NeoGenomics to $17.00 in a report on Tuesday, November 15th. Raymond James increased their price objective on shares of NeoGenomics from $12.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Cowen lifted their target price on shares of NeoGenomics from $14.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Piper Sandler boosted their price objective on NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. Finally, Benchmark upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

NeoGenomics Stock Performance

NeoGenomics stock opened at $16.77 on Monday. NeoGenomics, Inc. has a 52 week low of $6.00 and a 52 week high of $19.07. The company has a current ratio of 6.73, a quick ratio of 6.46 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.14 billion, a P/E ratio of -14.46 and a beta of 1.13. The stock has a 50 day moving average of $12.94 and a 200-day moving average of $10.70.

About NeoGenomics

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NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.