Point72 Asia Singapore Pte. Ltd. Sells 8,048 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Point72 Asia Singapore Pte. Ltd. trimmed its stake in NeoGenomics, Inc. (NASDAQ:NEO) by 63.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,636 shares of the medical research company’s stock after selling 8,048 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in NeoGenomics were worth $64,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in NeoGenomics in the second quarter valued at approximately $517,000. First Light Asset Management LLC boosted its holdings in NeoGenomics by 14.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,782,561 shares of the medical research company’s stock worth $52,464,000 after acquiring an additional 480,396 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in NeoGenomics by 7.5% during the second quarter. Public Sector Pension Investment Board now owns 280,981 shares of the medical research company’s stock worth $3,897,000 after purchasing an additional 19,712 shares during the last quarter. Sei Investments Co. grew its holdings in shares of NeoGenomics by 152.6% in the second quarter. Sei Investments Co. now owns 263,761 shares of the medical research company’s stock valued at $3,658,000 after acquiring an additional 159,350 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of NeoGenomics during the second quarter valued at approximately $57,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NEO. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a research report on Wednesday, September 25th. Finally, Stephens reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.89.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $14.50 on Monday. The firm has a market capitalization of $1.85 billion, a PE ratio of -21.97 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $16.06 and a two-hundred day moving average price of $14.92. NeoGenomics, Inc. has a twelve month low of $11.03 and a twelve month high of $21.22.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Monday, July 29th. The medical research company reported $0.03 EPS for the quarter. NeoGenomics had a negative net margin of 12.50% and a negative return on equity of 2.72%. The company had revenue of $164.50 million during the quarter, compared to the consensus estimate of $161.82 million. During the same period last year, the firm earned ($0.09) EPS. NeoGenomics’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts forecast that NeoGenomics, Inc. will post -0.22 EPS for the current year.

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.