Deutsche Bank AG Lowers Stake in NeoGenomics, Inc. $NEO

Deutsche Bank AG cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 95.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,189 shares of the medical research company’s stock after selling 2,341,514 shares during the quarter. Deutsche Bank AG owned about 0.08% of NeoGenomics worth $998,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NEO. CWM LLC grew its holdings in shares of NeoGenomics by 42.6% during the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock worth $60,000 after buying an additional 1,883 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in NeoGenomics during the 1st quarter valued at approximately $95,000. Teacher Retirement System of Texas acquired a new stake in NeoGenomics during the 1st quarter worth approximately $178,000. Sherbrooke Park Advisers LLC purchased a new position in shares of NeoGenomics in the 4th quarter valued at approximately $183,000. Finally, Bailard Inc. purchased a new position in shares of NeoGenomics in the 1st quarter valued at approximately $183,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NEO shares. Leerink Partners cut NeoGenomics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $25.00 to $9.00 in a research note on Wednesday, April 30th. Morgan Stanley set a $8.00 price objective on shares of NeoGenomics and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Guggenheim started coverage on shares of NeoGenomics in a research note on Thursday, May 15th. They issued a “neutral” rating for the company. Leerink Partnrs lowered shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, William Blair reissued a “market perform” rating on shares of NeoGenomics in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.75.

NeoGenomics Stock Performance

NASDAQ:NEO opened at $6.61 on Monday. The firm’s fifty day simple moving average is $6.57 and its 200-day simple moving average is $8.36. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The stock has a market cap of $853.88 million, a PE ratio of -8.16 and a beta of 1.54. NeoGenomics, Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $19.11.

Insiders Place Their Bets

In related news, Director Michael Aaron Kelly bought 5,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was bought at an average cost of $7.60 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $38,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.