Emerald Advisers LLC Cuts Stock Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Emerald Advisers LLC cut its holdings in NeoGenomics, Inc. (NASDAQ:NEO - Free Report) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,682,214 shares of the medical research company's stock after selling 162,401 shares during the quarter. Emerald Advisers LLC owned approximately 1.31% of NeoGenomics worth $24,813,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in NeoGenomics by 107.2% in the second quarter. Blue Trust Inc. now owns 2,331 shares of the medical research company's stock valued at $32,000 after purchasing an additional 1,206 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in NeoGenomics in the second quarter valued at about $57,000. Banque Cantonale Vaudoise raised its position in NeoGenomics by 10.2% in the second quarter. Banque Cantonale Vaudoise now owns 17,575 shares of the medical research company's stock valued at $244,000 after purchasing an additional 1,633 shares during the last quarter. Gabelli Funds LLC bought a new position in NeoGenomics in the first quarter valued at about $283,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of NeoGenomics during the first quarter worth about $314,000. 98.50% of the stock is owned by institutional investors and hedge funds.

NeoGenomics Stock Up 3.0 %

NeoGenomics stock traded up $0.41 during mid-day trading on Friday, reaching $14.00. The stock had a trading volume of 1,117,412 shares, compared to its average volume of 758,226. 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, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $21.22. The stock's 50-day simple moving average is $14.80 and its 200-day simple moving average is $14.71. The firm has a market capitalization of $1.79 billion, a PE ratio of -22.58 and a beta of 1.19.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEO. Stephens restated an "overweight" rating and set a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of NeoGenomics in a report on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of NeoGenomics in a report on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.