Perkins Capital Management Inc Lowers stake in NeoGenomics (NEO)

NeoGenomics (NEO) : Perkins Capital Management Inc reduced its stake in NeoGenomics by 3.51% during the most recent quarter end. The investment management company now holds a total of 673,032 shares of NeoGenomics which is valued at $6,265,928 after selling 24,450 shares in NeoGenomics , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.NeoGenomics makes up approximately 6.89% of Perkins Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Thomson Horstmann Bryant Inc reduced its stake in NEO by selling 146,172 shares or 21.89% in the most recent quarter. The Hedge Fund company now holds 521,652 shares of NEO which is valued at $4,856,580. NeoGenomics makes up approx 0.60% of Thomson Horstmann Bryant Inc’s portfolio.First United Bank Trust reduced its stake in NEO by selling 11,000 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 44,000 shares of NEO which is valued at $411,840. NeoGenomics makes up approx 0.35% of First United Bank Trust’s portfolio. Cutler Group Lp added NEO to its portfolio by purchasing 3,700 company shares during the most recent quarter which is valued at $34,632. Bnp Paribas Arbitrage Sa added NEO to its portfolio by purchasing 2,056 company shares during the most recent quarter which is valued at $18,812.

NeoGenomics opened for trading at $9.25 and hit $9.41 on the upside on Wednesday, eventually ending the session at $9.36, with a gain of 1.74% or 0.16 points. The heightened volatility saw the trading volume jump to 2,81,882 shares. Company has a market cap of $722 M.

On the company’s financial health, NeoGenomics reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.01. The company had revenue of $59.70 million for the quarter, compared to analysts expectations of $57.00 million. The company’s revenue was up 159.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

Many Wall Street Analysts have commented on NeoGenomics. Company shares were Reiterated by The Benchmark Company on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .

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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