NeoGenomics, Inc. (NASDAQ:NEO) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC increased its holdings in shares of NeoGenomics, Inc. (NASDAQ:NEO – Get Rating) by 184.8% during the third quarter, HoldingsChannel reports. The fund owned 1,633,904 shares of the medical research company’s stock after buying an additional 1,060,294 shares during the period. Fred Alger Management LLC’s holdings in NeoGenomics were worth $14,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEO. Quadrant Capital Group LLC grew its holdings in NeoGenomics by 149.5% during the third quarter. Quadrant Capital Group LLC now owns 3,027 shares of the medical research company’s stock worth $26,000 after acquiring an additional 1,814 shares during the period. Ronald Blue Trust Inc. acquired a new position in NeoGenomics during the second quarter worth $28,000. Security Benefit Life Insurance Co. KS acquired a new position in NeoGenomics during the second quarter worth $44,000. Captrust Financial Advisors grew its holdings in NeoGenomics by 17.1% during the second quarter. Captrust Financial Advisors now owns 5,780 shares of the medical research company’s stock worth $47,000 after acquiring an additional 844 shares during the period. Finally, Bessemer Group Inc. acquired a new position in NeoGenomics during the third quarter worth $69,000. Institutional investors and hedge funds own 88.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James upped their price objective on NeoGenomics from $12.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Morgan Stanley boosted their target price on NeoGenomics from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, February 24th. Cowen decreased their target price on NeoGenomics to $17.00 in a research report on Tuesday, November 15th. StockNews.com upgraded NeoGenomics from a “sell” rating to a “hold” rating in a research report on Saturday, February 25th. Finally, Piper Sandler upped their price objective on NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.33.

NeoGenomics Stock Performance

NeoGenomics stock opened at $18.65 on Wednesday. The firm has a market capitalization of $2.38 billion, a P/E ratio of -16.08 and a beta of 1.13. The stock has a fifty day moving average price of $13.30 and a 200 day moving average price of $10.79. NeoGenomics, Inc. has a 52 week low of $6.00 and a 52 week high of $19.07. The company has a current ratio of 6.73, a quick ratio of 6.46 and a debt-to-equity ratio of 0.54.

About NeoGenomics

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NeoGenomics, Inc is a clinical laboratory company, which engages in cancer genetics diagnostic testing and pharma services. It operates through the Clinical Services and Pharma Services segments. The Clinical Services segment offers cancer testing services to community-based pathologists, hospitals, academic centers, and oncology groups.