Personalis’ (PSNL) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Personalis (NASDAQ:PSNL) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $7.25 price objective on the stock.

Personalis Trading Up 9.3 %

NASDAQ:PSNL opened at $5.75 on Friday. The business’s 50-day moving average is $4.35 and its 200 day moving average is $3.85. Personalis has a 12 month low of $1.12 and a 12 month high of $7.20. The company has a market capitalization of $406.23 million, a P/E ratio of -3.42 and a beta of 1.88.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.64) earnings per share (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 firm had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $20.67 million. During the same period last year, the company earned ($0.51) earnings per share. On average, research analysts forecast that Personalis will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Personalis during the third quarter valued at approximately $40,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings 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 valued at $81,000 after buying an additional 4,504 shares during the period. International Assets Investment Management LLC lifted its position in Personalis by 438.0% in the third quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock worth $113,000 after buying an additional 17,082 shares during the last quarter. Quantbot Technologies LP purchased a new position in Personalis during the third quarter worth $210,000. Finally, Barclays PLC increased its position in Personalis by 45.4% during the third quarter. Barclays PLC now owns 65,468 shares of the company’s stock valued at $352,000 after acquiring an additional 20,444 shares during the last quarter. Hedge funds and other institutional investors own 61.91% of the company’s stock.

Personalis Company Profile

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.