NeoGenomics, Inc. (NASDAQ:NEO) Shares Sold by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC trimmed its holdings in NeoGenomics, Inc. (NASDAQ:NEO) by 33.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,228 shares of the medical research company’s stock after selling 11,701 shares during the period. Mach 1 Financial Group LLC’s holdings in NeoGenomics were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. BluePath Capital Management LLC acquired a new stake in NeoGenomics during the third quarter worth about $30,000. WINTON GROUP Ltd acquired a new stake in NeoGenomics during the third quarter worth about $133,000. Corton Capital Inc. acquired a new stake in NeoGenomics during the third quarter worth about $141,000. Aigen Investment Management LP acquired a new stake in NeoGenomics during the third quarter worth about $163,000. Finally, Mackenzie Financial Corp acquired a new stake in NeoGenomics during the third quarter worth about $199,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEO has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of NeoGenomics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Craig Hallum assumed coverage on shares of NeoGenomics in a research report on Wednesday. They set a “buy” rating and a $26.00 price target for the company. TD Cowen dropped their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of NeoGenomics in a research report on Wednesday. Finally, Needham & Company LLC dropped their price target on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, NeoGenomics presently has an average rating of “Moderate Buy” and a consensus price target of $19.78.

NeoGenomics Trading Up 0.3 %

NASDAQ NEO opened at $13.96 on Thursday. The firm has a 50 day simple moving average of $14.99 and a 200-day simple moving average of $15.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 7.48. NeoGenomics, Inc. has a one year low of $11.03 and a one year high of $21.22. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -21.15 and a beta of 1.12.

NeoGenomics (NASDAQ:NEO) last released its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The firm had revenue of $155.55 million during the quarter, compared to analyst estimates of $152.90 million. Equities research analysts anticipate that NeoGenomics, Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.96, for a total transaction of $38,701.52. Following the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

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.