We’ve been watching the medical space closely recently, and a recent share acquisition has just hit press that highlights the activity in the sector. Here’s what’s important, and what it means.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Neogenomics Inc (NASDAQ:NEO) reported that General Electric Co. has picked up 21,600,000 of common stock as of 2016-12-27.
The acquisition brings the aggregate amount owned by General Electric Co. to a total of 21,600,000 representing a 25.4 % stake in the company.
According to company literature, NeoGenomics, Inc. is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. Its Laboratory Testing segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. 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, and immunohistochemistry (IHC), and digital imaging, which is a process of localizing proteins in cells of a tissue section and relies on the principle of antibodies binding specifically to antigens in biological tissues.
A glance at Neogenomics Inc (NASDAQ:NEO)’s key stats reveals a current market capitalization of 705.91 million based on 78.51 million shares outstanding and a price at last close of $8.85 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-03, Johnson picked up 14,800 at a purchase price of $6.75. This brings their total holding to 110,547 as of the date of the filing.
On the sell side, the most recent transaction saw Albitar unload 2800 shares at a sale price of $08.40. This brings their total holding to 60,692.
It’s hard to understate how important this is for Neogenomics.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Neogenomics Inc (NASDAQ:NEO) as things move forward to see if its progress aligns with these transactions.
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