1492 Capital Management Lowers stake in NeoGenomics (NEO)

NeoGenomics (NEO) : 1492 Capital Management reduced its stake in NeoGenomics by 19.43% during the most recent quarter end. The investment management company now holds a total of 559,023 shares of NeoGenomics which is valued at $4,483,364 after selling 134,770 shares in NeoGenomics , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.NeoGenomics makes up approximately 3.70% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Next Century Growth Investors boosted its stake in NEO in the latest quarter, The investment management firm added 1,563,410 additional shares and now holds a total of 2,561,018 shares of NeoGenomics which is valued at $20,539,364. NeoGenomics makes up approx 0.91% of Next Century Growth Investors’s portfolio.Teachers Advisors Inc reduced its stake in NEO by selling 5,734 shares or 5.81% in the most recent quarter. The Hedge Fund company now holds 92,918 shares of NEO which is valued at $745,202. Trexquant Investment Lp added NEO to its portfolio by purchasing 20,696 company shares during the most recent quarter which is valued at $165,982. NeoGenomics makes up approx 0.02% of Trexquant Investment Lp’s portfolio. Arcadia Investment Management Corpmi added NEO to its portfolio by purchasing 1,018 company shares during the most recent quarter which is valued at $9,325.

NeoGenomics opened for trading at $8.1 and hit $8.13 on the upside on Monday, eventually ending the session at $8.08, with a gain of 0.12% or 0.01 points. The heightened volatility saw the trading volume jump to 1,64,558 shares. Company has a market cap of $629 M.

On the company’s financial health, NeoGenomics reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.03. The company had revenue of $63.13 million for the quarter, compared to analysts expectations of $60.94 million. The company’s revenue was up 159.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on NeoGenomics. Company shares were Reiterated by The Benchmark Company on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .

NeoGenomics Inc. is an operator of a network of cancer-focused genetic testing laboratories. The Company offers testing services which includes Cytogenetics testing which is the study of normal and abnormal chromosomes and their relationship to disease; fluorescence in-situ hybridization (FISH) testing which is a branch of cancer genetics that focuses on detecting and locating the presence or absence of specific deoxyribonucleic acid (DNA) sequences and genes on chromosomes; flow cytometry testing which is a way to measure the characteristics of cell populations; immunohistochemistry (IHC) testing which is a process of identifying cell proteins in a tissue section utilizing the principle of antibodies binding specifically to in biological tissues. and molecular testing which is a cancer diagnostic tool focusing on the analysis of DNA and ribonucleic acid (RNA) as well as the structure and function of genes at a molecular level.

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