HC Wainwright Reiterates “Buy” Rating for Personalis (NASDAQ:PSNL)

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 93.24% from the company’s previous close. HC Wainwright also issued estimates for Personalis’ FY2029 earnings at $0.33 EPS.

Other equities analysts also recently issued reports about the company. Lake Street Capital raised their price objective on Personalis from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC cut their price objective on Personalis from $7.25 to $7.00 and set a “buy” rating on the stock in a report on Friday.

Personalis Trading Down 2.4 %

Shares of NASDAQ:PSNL opened at $4.14 on Friday. The stock’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $5.04. Personalis has a 12-month low of $1.13 and a 12-month high of $7.20. The firm has a market cap of $292.48 million, a price-to-earnings ratio of -2.46 and a beta of 1.73.

Personalis (NASDAQ:PSNL) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.09. The company had revenue of $16.80 million for the quarter, compared to the consensus estimate of $15.48 million. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. As a group, research analysts forecast that Personalis will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Personalis

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its holdings in shares of Personalis by 154.3% during the 3rd quarter. Jane Street Group LLC now owns 164,281 shares of the company’s stock valued at $884,000 after buying an additional 99,671 shares during the period. abrdn plc purchased a new stake in shares of Personalis during the 4th quarter valued at about $1,722,000. ARK Investment Management LLC raised its holdings in shares of Personalis by 11.4% during the 3rd quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock valued at $38,120,000 after buying an additional 723,637 shares during the period. Walleye Capital LLC purchased a new stake in shares of Personalis during the 3rd quarter valued at about $897,000. Finally, Barclays PLC raised its holdings in shares of Personalis by 45.4% during the 3rd quarter. Barclays PLC now owns 65,468 shares of the company’s stock valued at $352,000 after buying an additional 20,444 shares during the period. 61.91% of the stock is currently owned by hedge funds and other 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.