HC Wainwright Cuts Personalis (NASDAQ:PSNL) Price Target to $8.00

Personalis (NASDAQ:PSNL) had its target price reduced by investment analysts at HC Wainwright from $11.00 to $8.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 30.72% from the company’s current price.

PSNL has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.25 price target on shares of Personalis in a research note on Wednesday, January 8th. Lake Street Capital boosted their price objective on shares of Personalis from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th.

Personalis Price Performance

Shares of PSNL stock opened at $6.12 on Monday. The stock has a market cap of $432.38 million, a PE ratio of -3.64 and a beta of 1.75. The stock has a 50-day moving average of $4.82 and a 200-day moving average of $4.69. Personalis has a one year low of $1.12 and a one year high of $7.20.

Personalis (NASDAQ:PSNL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.31). The firm had revenue of $25.71 million during the quarter, compared to analyst estimates 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 last year, the firm earned ($0.51) EPS. As a group, research analysts anticipate that Personalis will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On Personalis

Several hedge funds have recently made changes to their positions in PSNL. ARK Investment Management LLC lifted its position in Personalis by 11.4% during the 3rd quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock worth $38,120,000 after buying an additional 723,637 shares in the last quarter. abrdn plc bought a new stake in Personalis during the fourth quarter worth about $1,722,000. Walleye Capital LLC acquired a new position in Personalis during the third quarter valued at approximately $897,000. Jane Street Group LLC boosted 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 purchasing an additional 99,671 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake 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 purchasing an additional 83,068 shares in the last quarter. 61.91% of the stock is owned by 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.