Cubist Systematic Strategies LLC Sells 12,837 Shares of NeoGenomics, Inc. (NASDAQ:NEO)

Cubist Systematic Strategies LLC reduced its position in shares of NeoGenomics, Inc. (NASDAQ:NEO) by 11.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,195 shares of the medical research company’s stock after selling 12,837 shares during the quarter. Cubist Systematic Strategies LLC owned 0.08% of NeoGenomics worth $1,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Light Asset Management LLC grew its stake in shares of NeoGenomics by 29.6% in the fourth quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after acquiring an additional 897,843 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of NeoGenomics in the first quarter worth approximately $680,000. Edgestream Partners L.P. purchased a new position in shares of NeoGenomics in the first quarter worth approximately $1,894,000. Jennison Associates LLC boosted its holdings in shares of NeoGenomics by 77.8% in the first quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after buying an additional 460,071 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of NeoGenomics in the first quarter worth approximately $14,872,000. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Trading Down 6.4 %

Shares of NEO opened at $13.81 on Wednesday. The company’s fifty day moving average is $16.06 and its 200 day moving average is $14.92. NeoGenomics, Inc. has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. The stock has a market capitalization of $1.76 billion, a PE ratio of -20.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Monday, July 29th. The medical research company reported $0.03 earnings per share 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 for the quarter, compared to analysts’ expectations of $161.82 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. NeoGenomics’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts expect that NeoGenomics, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a report on Tuesday, July 30th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday, September 25th. Finally, Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics 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.