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

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $7.25 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 29.93% from the stock’s previous close.

Several other equities research analysts have also commented on PSNL. BTIG Research raised their price target on shares of Personalis from $5.50 to $7.00 and gave the company a “buy” rating in a research note on Friday, August 16th. HC Wainwright raised their price target on shares of Personalis from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Monday, August 19th.

Personalis Stock Down 1.1 %

Shares of NASDAQ PSNL opened at $5.58 on Thursday. The firm’s 50-day moving average price is $5.18 and its two-hundred day moving average price is $3.31. Personalis has a 52-week low of $0.89 and a 52-week high of $7.20. The stock has a market capitalization of $296.19 million, a P/E ratio of -3.40 and a beta of 1.94.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC increased its stake in shares of Personalis by 11.4% during the third quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock valued at $38,120,000 after acquiring an additional 723,637 shares during the period. Acadian Asset Management LLC increased its stake in shares of Personalis by 6.7% during the second quarter. Acadian Asset Management LLC now owns 1,057,956 shares of the company’s stock valued at $1,237,000 after acquiring an additional 66,128 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Personalis by 144.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 821,657 shares of the company’s stock valued at $1,224,000 after acquiring an additional 485,822 shares during the period. GSA Capital Partners LLP increased its stake in shares of Personalis by 6.2% during the first quarter. GSA Capital Partners LLP now owns 420,141 shares of the company’s stock valued at $626,000 after acquiring an additional 24,498 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Personalis by 58.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 95,000 shares of the company’s stock valued at $142,000 after acquiring an additional 34,900 shares during the period. Institutional investors and hedge funds own 61.91% of the company’s stock.

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.