Needham & Company LLC Reiterates “Buy” Rating for Personalis (NASDAQ:PSNL)

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $7.25 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 29.93% from the company’s current price.

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

Personalis Stock Performance

Shares of PSNL opened at $5.58 on Thursday. The stock has a fifty day moving average of $5.18 and a two-hundred day moving average of $3.31. The company has a market capitalization of $296.19 million, a PE ratio of -3.40 and a beta of 1.94. Personalis has a fifty-two week low of $0.89 and a fifty-two week high of $7.20.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.10. The company had revenue of $22.58 million during the quarter, compared to the consensus estimate of $19.81 million. Personalis had a negative return on equity of 56.87% and a negative net margin of 101.78%. During the same period in the previous year, the firm posted ($0.50) EPS. As a group, equities research analysts forecast that Personalis will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Personalis

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in Personalis by 6.2% in the 1st quarter. GSA Capital Partners LLP now owns 420,141 shares of the company’s stock valued at $626,000 after purchasing an additional 24,498 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Personalis by 90.7% in the 1st quarter. Acadian Asset Management LLC now owns 991,828 shares of the company’s stock valued at $1,476,000 after purchasing an additional 471,646 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Personalis by 58.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 95,000 shares of the company’s stock valued at $142,000 after purchasing an additional 34,900 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Personalis in the 1st quarter valued at $29,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Personalis by 144.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 821,657 shares of the company’s stock valued at $1,224,000 after buying an additional 485,822 shares during the last quarter. 61.91% of the stock is currently owned by institutional investors and hedge funds.

About Personalis

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.