Cibc World Markets Corp Acquires New Position in NeoGenomics, Inc. (NASDAQ:NEO)

Cibc World Markets Corp bought a new position in NeoGenomics, Inc. (NASDAQ:NEO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,932 shares of the medical research company’s stock, valued at approximately $197,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of NeoGenomics during the fourth quarter valued at $26,000. Versant Capital Management Inc lifted its stake in NeoGenomics by 174.9% during the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 1,142 shares during the period. Quarry LP purchased a new stake in shares of NeoGenomics during the 3rd quarter valued at about $40,000. Smartleaf Asset Management LLC boosted its holdings in shares of NeoGenomics by 203.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 2,787 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of NeoGenomics by 33.2% during the fourth 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 last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

NEO has been the topic of several research reports. Needham & Company LLC dropped their target price on shares of NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Piper Sandler cut their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Bank of America lowered their target price on NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on shares of NeoGenomics in a research report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target for the company. Finally, The Goldman Sachs Group cut their target price on shares of NeoGenomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NeoGenomics currently has an average rating of “Moderate Buy” and a consensus price target of $19.60.

NeoGenomics Price Performance

Shares of NeoGenomics stock opened at $9.41 on Thursday. The company has a quick ratio of 1.91, a current ratio of 1.98 and a debt-to-equity ratio of 0.38. NeoGenomics, Inc. has a 52 week low of $8.98 and a 52 week high of $19.12. The stock’s 50-day simple moving average is $12.10 and its 200-day simple moving average is $14.44. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.18 and a beta of 1.28.

NeoGenomics (NASDAQ:NEO) last released its quarterly earnings data on Tuesday, February 18th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative net margin of 11.92% and a negative return on equity of 2.10%. The company had revenue of $172.00 million for the quarter, compared to the consensus estimate of $173.40 million. As a group, analysts expect that NeoGenomics, Inc. will post -0.2 earnings per share for the current fiscal year.

About NeoGenomics

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.