1492 Capital Management Lowers stake in NeoGenomics (NEO)

NeoGenomics (NEO) : 1492 Capital Management reduced its stake in NeoGenomics by 7.88% during the most recent quarter end. The investment management company now holds a total of 693,793 shares of NeoGenomics which is valued at $5.8 Million after selling 59,310 shares in NeoGenomics , the firm said in a disclosure report filed with the SEC on May 11, 2016.NeoGenomics makes up approximately 4.98% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp boosted its stake in NEO in the latest quarter, The investment management firm added 348,000 additional shares and now holds a total of 473,000 shares of NeoGenomics which is valued at $3.9 Million. NeoGenomics makes up approx 0.03% of Royce Associates Lp’s portfolio. Cadence Capital Management added NEO to its portfolio by purchasing 120,215 company shares during the most recent quarter which is valued at $974,944. NeoGenomics makes up approx 0.07% of Cadence Capital Management’s portfolio.Northpointe Capital boosted its stake in NEO in the latest quarter, The investment management firm added 18,119 additional shares and now holds a total of 516,359 shares of NeoGenomics which is valued at $4.2 Million. NeoGenomics makes up approx 0.51% of Northpointe Capital’s portfolio.

NeoGenomics opened for trading at $8.37 and hit $8.61 on the upside on Monday, eventually ending the session at $8.59, with a gain of 2.87% or 0.24 points. The heightened volatility saw the trading volume jump to 6,27,739 shares. Company has a market cap of $662 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 .The Benchmark Company Initiated NeoGenomics on Mar 11, 2016 to “Buy”, Price Target of the shares are set at $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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