Allspring Global Investments Holdings LLC Cuts Holdings in NeoGenomics, Inc. (NASDAQ:NEO)

Allspring Global Investments Holdings LLC reduced its position in NeoGenomics, Inc. (NASDAQ:NEO) by 25.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,677 shares of the medical research company’s stock after selling 7,363 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NeoGenomics were worth $320,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in 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 period. Canada Pension Plan Investment Board purchased 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 period. Gabelli Funds LLC purchased a new position in NeoGenomics in the first quarter valued at about $283,000. Finally, SG Americas Securities LLC purchased a new position in NeoGenomics in the third quarter valued at about $312,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on NEO shares. Stephens reissued an “overweight” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Tuesday, July 30th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of NeoGenomics in a research report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of NeoGenomics in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.89.

NeoGenomics Stock Up 3.0 %

Shares of NASDAQ NEO opened at $14.00 on Friday. NeoGenomics, Inc. has a 1 year low of $12.77 and a 1 year high of $21.22. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -22.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.93 and a current ratio of 2.01. The stock’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $14.70.

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.