Personalis (NASDAQ:PSNL) Price Target Raised to $17.00

Personalis (NASDAQ:PSNL) had its target price hoisted by Needham & Company LLC from $12.00 to $17.00 in a report issued on Friday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on PSNL. Wall Street Zen downgraded Personalis from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. BTIG Research dropped their price objective on Personalis from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Morgan Stanley boosted their price objective on Personalis from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Personalis in a research report on Tuesday, April 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Personalis in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Personalis Stock Performance

NASDAQ:PSNL opened at $15.39 on Friday. The firm’s fifty day moving average is $10.94 and its 200-day moving average is $8.91. Personalis has a 52 week low of $3.84 and a 52 week high of $16.39. The firm has a market cap of $1.61 billion, a P/E ratio of -15.09 and a beta of 2.24.

Personalis (NASDAQ:PSNL) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Personalis had a negative return on equity of 43.52% and a negative net margin of 148.11%.The firm had revenue of $15.47 million for the quarter, compared to analyst estimates of $14.48 million. As a group, sell-side analysts anticipate that Personalis will post -1.07 earnings per share for the current year.

Insider Buying and Selling at Personalis

In related news, CEO Christopher M. Hall sold 100,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $13.15, for a total transaction of $1,315,000.00. Following the transaction, the chief executive officer directly owned 235,986 shares of the company’s stock, valued at $3,103,215.90. This represents a 29.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Tachibana sold 51,251 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $13.18, for a total transaction of $675,488.18. Following the completion of the sale, the chief financial officer owned 198,833 shares of the company’s stock, valued at $2,620,618.94. The trade was a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 435,032 shares of company stock worth $5,599,929. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Personalis

A number of institutional investors and hedge funds have recently made changes to their positions in PSNL. Caitong International Asset Management Co. Ltd increased its position in Personalis by 76.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,423 shares of the company’s stock valued at $27,000 after buying an additional 1,479 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Personalis during the 4th quarter worth approximately $31,000. Legal & General Group Plc acquired a new position in Personalis during the 2nd quarter worth approximately $30,000. BNP Paribas Financial Markets boosted its holdings in Personalis by 406.4% in the second quarter. BNP Paribas Financial Markets now owns 6,451 shares of the company’s stock worth $42,000 after acquiring an additional 5,177 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Personalis in the fourth quarter worth approximately $82,000. Institutional investors own 61.91% of the company’s stock.

About Personalis

Personalis, Inc (NASDAQ: PSNL) is a clinical?stage genomics company that develops and markets advanced next?generation sequencing (NGS) services and assays designed to accelerate precision medicine. The Company’s core offering is the ImmunoID NeXT™ Platform, which combines comprehensive tumor profiling—including whole exome, transcriptome, and T?cell receptor sequencing—with proprietary bioinformatics to identify biomarkers and guide immuno?oncology research. Personalis serves biopharmaceutical companies, academic institutions, and clinical research organizations seeking in?depth insights into cancer, autoimmune diseases and other complex conditions.

In addition to its flagship ImmunoID NeXT™ Platform, Personalis offers a suite of customizable sequencing assays for biomarker discovery, clinical trial support and companion diagnostic development.