Lake Street Capital Begins Coverage on Personalis (NASDAQ:PSNL)

Research analysts at Lake Street Capital initiated coverage on shares of Personalis (NASDAQ:PSNL) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Lake Street Capital’s price objective points to a potential upside of 169.36% from the stock’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $3.50 price target on shares of Personalis in a report on Thursday, April 11th.

Personalis Price Performance

Shares of NASDAQ:PSNL traded up $0.13 during midday trading on Tuesday, reaching $1.49. The company’s stock had a trading volume of 190,444 shares, compared to its average volume of 365,541. Personalis has a fifty-two week low of $0.89 and a fifty-two week high of $2.60. The company has a market capitalization of $74.99 million, a P/E ratio of -0.66 and a beta of 1.95. The business’s fifty day simple moving average is $1.45 and its 200-day simple moving average is $1.43.

Personalis (NASDAQ:PSNL) last announced its earnings results on Wednesday, February 28th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.07. Personalis had a negative return on equity of 61.42% and a negative net margin of 147.38%. The company had revenue of $19.68 million during the quarter, compared to analyst estimates of $19.56 million. On average, analysts forecast that Personalis will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Personalis

Several hedge funds have recently added to or reduced their stakes in the company. Pathstone Family Office LLC boosted its holdings in Personalis by 149.3% during the third quarter. Pathstone Family Office LLC now owns 37,081 shares of the company’s stock worth $45,000 after buying an additional 22,204 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in Personalis during the third quarter worth about $36,000. ARK Investment Management LLC boosted its holdings in Personalis by 16.6% during the fourth quarter. ARK Investment Management LLC now owns 6,671,545 shares of the company’s stock worth $14,010,000 after buying an additional 952,118 shares during the last quarter. Bruce & Co. Inc. boosted its holdings in Personalis by 100.0% during the fourth quarter. Bruce & Co. Inc. now owns 300,000 shares of the company’s stock worth $630,000 after buying an additional 150,000 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Personalis during the fourth quarter worth about $152,000. 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.