Personalis’ (PSNL) “Buy” Rating Reaffirmed at Needham & Company LLC

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $7.25 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 59.34% from the company’s current price.

PSNL has been the topic of a number of other reports. HC Wainwright upped their target price on shares of Personalis from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. BTIG Research upped their target price on shares of Personalis from $5.50 to $7.00 and gave the company a “buy” rating in a research note on Friday, August 16th.

Personalis Stock Performance

NASDAQ:PSNL traded up $0.23 during midday trading on Thursday, reaching $4.55. 1,264,613 shares of the stock traded hands, compared to its average volume of 717,108. The company has a fifty day moving average of $5.13 and a 200 day moving average of $3.34. Personalis has a 12 month low of $0.89 and a 12 month high of $7.20. The stock has a market capitalization of $241.51 million, a P/E ratio of -2.71 and a beta of 1.94.

Personalis (NASDAQ:PSNL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. Personalis had a negative net margin of 104.52% and a negative return on equity of 72.35%. The company had revenue of $22.58 million during the quarter, compared to analyst estimates of $19.81 million. During the same period in the prior year, the business posted ($0.50) EPS. On average, analysts predict that Personalis will post -1.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Personalis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSNL. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Personalis by 98.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,788 shares of the company’s stock valued at $585,000 after buying an additional 53,965 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Personalis by 11.4% in the third quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock valued at $38,120,000 after purchasing an additional 723,637 shares in the last quarter. Semanteon Capital Management LP purchased a new position in shares of Personalis in the third quarter valued at $375,000. International Assets Investment Management LLC lifted its position in Personalis by 438.0% in the third quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock worth $113,000 after buying an additional 17,082 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Personalis in the third quarter worth $40,000. 61.91% of the stock is owned by hedge funds and other institutional investors.

Personalis Company Profile

Personalis, Inc develops and markets advanced cancer genomic tests and analytics primarily in the United States, Europe, and the Asia-Pacific. Its tests and analytics are used by pharmaceutical companies for translational research, biomarker discovery, and development of personalized cancer therapies, as well as advanced tests are used by physicians to detect cancer recurrence, monitor cancer evolution, and uncover insights for therapy selection.