Personalis (NASDAQ:PSNL) Given New $7.00 Price Target at Needham & Company LLC

Personalis (NASDAQ:PSNL) had its target price lowered by Needham & Company LLC from $7.25 to $7.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on PSNL. HC Wainwright dropped their price target on Personalis from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Lake Street Capital raised their price target on Personalis from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th.

Personalis Trading Down 2.4 %

NASDAQ:PSNL opened at $4.14 on Friday. Personalis has a 1-year low of $1.13 and a 1-year high of $7.20. The business’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.04. The firm has a market capitalization of $292.48 million, a price-to-earnings ratio of -2.46 and a beta of 1.73.

Personalis (NASDAQ:PSNL) last released its earnings results on Thursday, February 27th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.09. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. The firm had revenue of $16.80 million for the quarter, compared to analyst estimates of $15.48 million. Sell-side analysts predict that Personalis will post -1.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PSNL. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Personalis during the fourth quarter worth about $28,000. JPMorgan Chase & Co. grew its holdings in shares of Personalis by 2,827.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company’s stock worth $34,000 after buying an additional 5,654 shares in the last quarter. Olympiad Research LP bought a new position in shares of Personalis during the fourth quarter worth about $59,000. Alpine Global Management LLC bought a new position in shares of Personalis during the fourth quarter worth about $60,000. Finally, SG Americas Securities LLC bought a new position in shares of Personalis during the fourth quarter worth about $63,000. 61.91% of the stock is currently owned by institutional investors.

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.