Needham & Company LLC Cuts Personalis (NASDAQ:PSNL) Price Target to $7.00

Personalis (NASDAQ:PSNL) had its target price decreased by Needham & Company LLC from $7.25 to $7.00 in a research note released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages also recently commented on PSNL. Lake Street Capital lifted their target price on Personalis from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reduced their target price on Personalis from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, January 27th.

Personalis Stock Down 2.4 %

PSNL stock opened at $4.14 on Friday. Personalis has a twelve month low of $1.13 and a twelve month high of $7.20. The business has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $5.04. The company has a market cap of $292.48 million, a price-to-earnings ratio of -2.46 and a beta of 1.73.

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

Institutional Trading of Personalis

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in Personalis by 154.3% during the 3rd quarter. Jane Street Group LLC now owns 164,281 shares of the company’s stock worth $884,000 after purchasing an additional 99,671 shares during the last quarter. abrdn plc acquired a new stake in Personalis during the 4th quarter worth approximately $1,722,000. ARK Investment Management LLC lifted its holdings in 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 last quarter. Walleye Capital LLC acquired a new stake in Personalis during the 3rd quarter worth approximately $897,000. Finally, Barclays PLC lifted its holdings in Personalis by 45.4% during the 3rd quarter. Barclays PLC now owns 65,468 shares of the company’s stock worth $352,000 after purchasing an additional 20,444 shares during the last quarter. 61.91% of the stock is 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.