HC Wainwright Forecasts Strong Price Appreciation for Personalis (NASDAQ:PSNL) Stock

Personalis (NASDAQ:PSNL) had its price objective upped by investment analysts at HC Wainwright from $9.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 91.30% from the stock’s current price.

Separately, Needham & Company LLC restated a “buy” rating and set a $7.25 price target on shares of Personalis in a report on Friday.

Personalis Price Performance

PSNL stock opened at $5.75 on Friday. Personalis has a 1 year low of $1.12 and a 1 year high of $7.20. The firm has a market capitalization of $406.23 million, a PE ratio of -3.42 and a beta of 1.88. The business has a 50 day simple moving average of $4.37 and a 200-day simple moving average of $3.88.

Personalis (NASDAQ:PSNL) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.31). Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. The company had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $20.67 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. On average, equities research analysts expect that Personalis will post -1.41 EPS for the current year.

Institutional Investors Weigh In On Personalis

A number of institutional investors have recently made changes to their positions in PSNL. ARK Investment Management LLC boosted its position in shares of 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 purchasing an additional 723,637 shares during the period. Walleye Capital LLC purchased a new position in shares of Personalis during the third quarter worth $897,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Personalis by 98.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,788 shares of the company’s stock valued at $585,000 after buying an additional 53,965 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Personalis by 438.0% in the 3rd quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock valued at $113,000 after buying an additional 17,082 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Personalis by 42.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,103 shares of the company’s stock worth $81,000 after acquiring an additional 4,504 shares in 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.