BNP Paribas Financial Markets Sells 35,979 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

BNP Paribas Financial Markets trimmed its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 49.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 36,984 shares of the medical research company’s stock after selling 35,979 shares during the quarter. BNP Paribas Financial Markets’ holdings in NeoGenomics were worth $609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEO. Blue Trust Inc. raised its stake in NeoGenomics by 33.2% during the 4th quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock valued at $73,000 after purchasing an additional 1,103 shares during the period. KBC Group NV raised its stake in NeoGenomics by 44.7% during the 4th quarter. KBC Group NV now owns 6,557 shares of the medical research company’s stock valued at $108,000 after purchasing an additional 2,027 shares during the period. Chicago Capital LLC bought a new stake in NeoGenomics during the 4th quarter valued at approximately $270,000. Jennison Associates LLC raised its stake in NeoGenomics by 18.7% during the 4th quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company’s stock valued at $24,963,000 after purchasing an additional 238,288 shares during the period. Finally, Guidance Capital Inc. bought a new stake in NeoGenomics during the 4th quarter valued at approximately $528,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEO has been the topic of a number of research reports. 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. Morgan Stanley cut their target price on NeoGenomics from $17.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group cut their target price on NeoGenomics from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen raised NeoGenomics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Leerink Partnrs downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.83.

NeoGenomics Price Performance

Shares of NASDAQ NEO opened at $7.41 on Friday. The stock’s 50-day moving average is $8.80 and its two-hundred day moving average is $12.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. NeoGenomics, Inc. has a 1-year low of $6.08 and a 1-year high of $19.12. The company has a market cap of $953.63 million, a price-to-earnings ratio of -11.95 and a beta of 1.60.

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

Insider Transactions at NeoGenomics

In related news, CFO Jeffrey Scott Sherman bought 20,000 shares of the stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $7.51 per share, for a total transaction of $150,200.00. Following the acquisition, the chief financial officer now owns 158,494 shares in the company, valued at $1,190,289.94. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Warren Stone bought 5,700 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the transaction, the chief operating officer now directly owns 108,280 shares in the company, valued at approximately $929,042.40. This trade represents a 5.56% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 65,600 shares of company stock valued at $512,438. Corporate insiders own 2.40% of the company’s stock.

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.