Personalis (NASDAQ:PSNL) Price Target Lowered to $7.00 at Needham & Company LLC

Personalis (NASDAQ:PSNL) had its price target cut by stock analysts at Needham & Company LLC from $7.25 to $7.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 69.08% from the company’s previous close.

Several other equities research analysts have also weighed in on PSNL. HC Wainwright reduced their target price on Personalis from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, January 27th. Lake Street Capital lifted their price target on Personalis from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th.

Personalis Stock Down 2.4 %

Shares of NASDAQ:PSNL opened at $4.14 on Friday. Personalis has a 12-month low of $1.13 and a 12-month high of $7.20. The firm has a market capitalization of $292.48 million, a P/E ratio of -2.46 and a beta of 1.73. The firm has a fifty day moving average of $5.40 and a two-hundred day moving average of $5.04.

Personalis (NASDAQ:PSNL) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.09. The company had revenue of $16.80 million during the quarter, compared to the consensus estimate of $15.48 million. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. Equities research analysts expect that Personalis will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Personalis

Hedge funds have recently made changes to their positions in the stock. Lightspeed Management Company L.L.C. acquired a new position in Personalis in the 4th quarter valued at approximately $47,169,000. ARK Investment Management LLC raised its stake 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. abrdn plc bought a new position in Personalis in the fourth quarter worth $1,722,000. Dimensional Fund Advisors LP boosted its stake in Personalis by 144.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 410,083 shares of the company’s stock worth $2,372,000 after buying an additional 242,141 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Personalis by 144.3% in the 4th quarter. Jane Street Group LLC now owns 401,314 shares of the company’s stock valued at $2,320,000 after buying an additional 237,033 shares during the period. Institutional investors own 61.91% of the company’s stock.

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.