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

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

Several other brokerages have also weighed in on PSNL. BTIG Research increased their price objective on shares of Personalis from $5.50 to $7.00 and gave the company a “buy” rating in a research report on Friday, August 16th. HC Wainwright increased their price objective on shares of Personalis from $7.50 to $9.00 and gave the company a “buy” rating in a research report on Monday, August 19th.

Personalis Stock Performance

PSNL stock traded up $0.23 during trading hours on Thursday, reaching $4.55. The stock had a trading volume of 1,264,199 shares, compared to its average volume of 717,108. The stock has a 50-day simple moving average of $5.15 and a 200 day simple moving average of $3.32. Personalis has a fifty-two week low of $0.89 and a fifty-two week high of $7.20.

Personalis (NASDAQ:PSNL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $22.58 million during the quarter, compared to analysts’ expectations of $19.81 million. Personalis had a negative net margin of 104.52% and a negative return on equity of 72.35%. During the same quarter last year, the company posted ($0.50) earnings per share. As a group, equities analysts predict that Personalis will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Personalis

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in Personalis during the first quarter worth about $29,000. nVerses Capital LLC bought a new position in Personalis during the third quarter worth about $40,000. Virtu Financial LLC bought a new position in Personalis during the first quarter worth about $41,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Personalis by 42.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,103 shares of the company’s stock worth $81,000 after acquiring an additional 4,504 shares during the period. Finally, International Assets Investment Management LLC increased its position in Personalis by 438.0% during the third quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock worth $113,000 after acquiring an additional 17,082 shares during the period. 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.