Needham & Company LLC Reiterates Buy Rating for Personalis (NASDAQ:PSNL)

Needham & Company LLC reiterated their buy rating on shares of Personalis (NASDAQ:PSNL) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $7.25 target price on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Personalis in a research report on Wednesday.

Personalis Stock Performance

Personalis stock opened at $5.60 on Wednesday. Personalis has a fifty-two week low of $1.12 and a fifty-two week high of $7.20. The firm has a market capitalization of $395.63 million, a price-to-earnings ratio of -3.33 and a beta of 1.75. The stock’s fifty day moving average is $4.69 and its two-hundred day moving average is $4.32.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.31). The business had revenue of $25.71 million during the quarter, compared to analyst estimates of $20.67 million. Personalis had a negative net margin of 104.52% and a negative return on equity of 66.07%. During the same period in the previous year, the company posted ($0.51) earnings per share. As a group, sell-side analysts forecast that Personalis will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Personalis

Several hedge funds have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Personalis in the third quarter valued at $40,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Personalis by 42.5% in 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 increased its stake in shares of Personalis by 438.0% during the 3rd quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock valued at $113,000 after acquiring an additional 17,082 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Personalis during the 3rd quarter worth about $210,000. Finally, Barclays PLC boosted its position in shares of Personalis by 45.4% in the third quarter. Barclays PLC now owns 65,468 shares of the company’s stock worth $352,000 after acquiring 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.