Here’s How Artisan Partners Views NeoGenomics (NEO)

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTMX returned -22.47%, Advisor Class fund APDMX posted a return of -22.43%, and Institutional Class fund APHMX returned -22.40%, compared to a return of -21.07% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners discussed stocks like NeoGenomics, Inc. (NASDAQ:NEO) in the second quarter 2022 investor letter. Headquartered in Fort Myers, Florida, NeoGenomics, Inc. (NASDAQ:NEO) is a network of clinical laboratories that focuses on cancer testing. On September 27, 2022, NeoGenomics, Inc. (NASDAQ:NEO) stock closed at $8.34 per share. One-month return of NeoGenomics, Inc. (NASDAQ:NEO) was -15.50% and its shares lost 81.97% of their value over the last 52 weeks. NeoGenomics, Inc. (NASDAQ:NEO) has a market capitalization of $1.049 billion.

Here is what Artisan Partners specifically said about NeoGenomics, Inc. (NASDAQ:NEO) in its Q2 2022 investor letter:

“NeoGenomics, Inc. (NASDAQ:NEO) is the largest cancer diagnostics lab in the US with the broadest menu of tests and deepest reach to oncologists and pathologists, particularly in rural areas where 80% of cancer testing occurs. Our thesis was focused on the company’s scale and competitive position as cancer treatment becomes personalized. Unfortunately, the company has faced several headwinds in recent quarters. The delta and omicron COVID-19 variants delayed an anticipated recovery in cancer testing volumes and the company’s CEO resigned amid a period of elevated lab expense growth. With our thesis stalled, we ended our GardenSM campaign.”

Pressmaster/Shutterstock.com

NeoGenomics, Inc. (NASDAQ:NEO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held NeoGenomics, Inc. (NASDAQ:NEO) at the end of the second quarter which was 22 in the previous quarter.

We discussed NeoGenomics, Inc. (NASDAQ:NEO) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.