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

Personalis (NASDAQ:PSNL) had its price target reduced by stock analysts at Needham & Company LLC from $7.25 to $7.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 65.09% from the company’s previous close.

Several other research firms have also issued reports on PSNL. HC Wainwright lowered their price target on Personalis from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Lake Street Capital raised their price objective on shares of Personalis from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th.

Personalis Trading Down 5.4 %

Shares of Personalis stock opened at $4.24 on Friday. The business has a fifty day simple moving average of $5.43 and a two-hundred day simple moving average of $5.04. The firm has a market capitalization of $299.55 million, a P/E ratio of -2.52 and a beta of 1.73. Personalis has a 12 month low of $1.13 and a 12 month high of $7.20.

Personalis (NASDAQ:PSNL) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.09. Personalis had a negative net margin of 104.52% and a negative return on equity of 66.07%. Analysts predict that Personalis will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Personalis in the 4th quarter worth about $28,000. JPMorgan Chase & Co. grew its stake in shares of Personalis by 2,827.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company’s stock worth $34,000 after acquiring an additional 5,654 shares during the period. Olympiad Research LP purchased a new position in shares of Personalis during the fourth quarter valued at approximately $59,000. Alpine Global Management LLC bought a new position in Personalis during the fourth quarter valued at approximately $60,000. Finally, SG Americas Securities LLC purchased a new stake in Personalis in the fourth quarter worth approximately $63,000. 61.91% of the stock is owned by institutional investors.

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.