Personalis (NASDAQ:PSNL) Earns Buy Rating from Needham & Company LLC

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $7.25 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 37.83% from the stock’s previous close.

Personalis Trading Up 47.8 %

PSNL opened at $5.26 on Friday. Personalis has a 12-month low of $1.12 and a 12-month high of $7.20. The company has a market cap of $371.61 million, a price-to-earnings ratio of -3.13 and a beta of 1.88. The stock has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $3.85.

Personalis (NASDAQ:PSNL) last announced its earnings results on Wednesday, November 6th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.31). The business had revenue of $25.71 million for the quarter, compared to the consensus estimate of $20.67 million. Personalis had a negative net margin of 104.52% and a negative return on equity of 66.07%. During the same period in the prior year, the business posted ($0.51) EPS. On average, analysts predict that Personalis will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Personalis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC raised its stake in Personalis by 11.4% during the 3rd quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock valued at $38,120,000 after buying an additional 723,637 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Personalis in the third quarter worth $897,000. Jane Street Group LLC increased its position in Personalis by 154.3% during the third quarter. Jane Street Group LLC now owns 164,281 shares of the company’s stock valued at $884,000 after acquiring an additional 99,671 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Personalis by 20.0% in the third quarter. Geode Capital Management LLC now owns 498,470 shares of the company’s stock valued at $2,683,000 after acquiring an additional 83,068 shares during the period. Finally, Centiva Capital LP purchased a new position in Personalis in the third quarter worth about $380,000. 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.