Texas Capital Bank Wealth Management Services Inc Invests $314,000 in NeoGenomics, Inc. (NASDAQ:NEO)

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of NeoGenomics, Inc. (NASDAQ:NEO) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,000 shares of the medical research company’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEO. First Light Asset Management LLC increased its stake in NeoGenomics by 29.6% during the 4th quarter. First Light Asset Management LLC now owns 3,926,756 shares of the medical research company’s stock worth $63,535,000 after buying an additional 897,843 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in NeoGenomics during the 1st quarter worth $680,000. Jennison Associates LLC boosted its stake in NeoGenomics by 77.8% during the 1st quarter. Jennison Associates LLC now owns 1,051,627 shares of the medical research company’s stock worth $16,532,000 after purchasing an additional 460,071 shares during the period. Redwood Investments LLC acquired a new stake in NeoGenomics during the 4th quarter worth $2,399,000. Finally, Legato Capital Management LLC acquired a new stake in NeoGenomics during the 4th quarter worth $401,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

NeoGenomics Trading Up 0.9 %

NEO stock traded up $0.13 during midday trading on Tuesday, reaching $14.93. 1,134,646 shares of the company’s stock traded hands, compared to its average volume of 836,416. The company has a market capitalization of $1.91 billion, a P/E ratio of -22.42 and a beta of 1.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.48 and a quick ratio of 7.22. NeoGenomics, Inc. has a fifty-two week low of $11.03 and a fifty-two week high of $21.22. The business has a 50-day moving average price of $13.94 and a two-hundred day moving average price of $14.71.

NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). NeoGenomics had a negative net margin of 13.79% and a negative return on equity of 3.54%. The business had revenue of $156.24 million for the quarter, compared to analyst estimates of $149.82 million. Equities research analysts forecast that NeoGenomics, Inc. will post -0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NEO shares. BTIG Research reduced their target price on shares of NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Craig Hallum began coverage on shares of NeoGenomics in a research report on Wednesday, May 1st. They issued a “buy” rating and a $26.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a research report on Wednesday, May 1st. Finally, Needham & Company LLC decreased their target price on shares of NeoGenomics from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, NeoGenomics has a consensus rating of “Moderate Buy” and an average target price of $19.78.

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.