Needham & Company LLC Has Lowered Expectations for Personalis (NASDAQ:PSNL) Stock Price

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

A number of other brokerages also recently weighed in on PSNL. Lake Street Capital upped their price target on shares of Personalis from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright cut their target price on shares of Personalis from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, January 27th.

Personalis Price Performance

Personalis stock opened at $4.14 on Friday. Personalis has a 12-month low of $1.13 and a 12-month high of $7.20. The stock has a market capitalization of $292.48 million, a PE ratio of -2.46 and a beta of 1.73. The firm has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $5.04.

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

Institutional Trading of Personalis

Several institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of 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 acquiring an additional 17,082 shares in the last quarter. ARK Investment Management LLC boosted its stake in Personalis by 11.4% in the 3rd quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock worth $38,120,000 after purchasing an additional 723,637 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position 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 worth $585,000 after purchasing an additional 53,965 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Personalis during the 3rd quarter valued at $210,000. Finally, Walleye Capital LLC purchased a new stake in shares of Personalis in the third quarter valued at $897,000. Institutional investors and hedge funds 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.