HC Wainwright Reaffirms Buy Rating for Personalis (NASDAQ:PSNL)

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 96.43% from the company’s current price.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $7.25 price objective on shares of Personalis in a research note on Friday, December 20th.

Personalis Trading Down 6.4 %

Shares of PSNL stock opened at $5.60 on Wednesday. Personalis has a twelve month low of $1.12 and a twelve month high of $7.20. The stock has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $4.33. The stock has a market capitalization of $395.63 million, a price-to-earnings ratio of -3.33 and a beta of 1.75.

Personalis (NASDAQ:PSNL) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $20.67 million. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. During the same period last year, the company earned ($0.51) earnings per share. Research analysts predict that Personalis will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. ARK Investment Management LLC lifted its position in 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 last quarter. Acadian Asset Management LLC increased its position 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 worth $1,237,000 after purchasing an additional 66,128 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Personalis by 20.0% during the 3rd 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 during the last quarter. State Street Corp boosted its position in shares of Personalis by 34.5% in the 3rd quarter. State Street Corp now owns 175,142 shares of the company’s stock worth $942,000 after purchasing an additional 44,900 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Personalis during the 3rd quarter worth $897,000. Hedge funds and other institutional investors 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.