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

Needham & Company LLC reiterated their buy rating on shares of Personalis (NASDAQ:PSNL - Free Report) in a report released on Thursday morning,Benzinga reports. They currently have a $7.25 price objective on the stock.

Several other equities research analysts have also commented on the company. HC Wainwright boosted their price target on Personalis from $7.50 to $9.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. BTIG Research boosted their price target on Personalis from $5.50 to $7.00 and gave the company a "buy" rating in a report on Friday, August 16th.

Personalis Trading Down 21.7 %

NASDAQ:PSNL traded down $1.21 during trading hours on Thursday, hitting $4.37. 2,178,616 shares of the stock were exchanged, compared to its average volume of 713,075. Personalis has a 52-week low of $0.89 and a 52-week high of $7.20. The firm's fifty day moving average price is $5.18 and its 200 day moving average price is $3.31. The company has a market cap of $231.96 million, a P/E ratio of -2.68 and a beta of 1.94.

Personalis (NASDAQ:PSNL - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.10. Personalis had a negative return on equity of 56.87% and a negative net margin of 101.78%. The firm had revenue of $22.58 million during the quarter, compared to analysts' expectations of $19.81 million. During the same period in the previous year, the firm posted ($0.50) EPS. Equities analysts expect that Personalis will post -1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Personalis in the 1st quarter worth approximately $29,000. nVerses Capital LLC bought a new position in shares of Personalis during the third quarter worth about $40,000. Virtu Financial LLC acquired a new position in shares of Personalis during the 1st quarter worth approximately $41,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Personalis by 42.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,103 shares of the company's stock valued at $81,000 after purchasing an additional 4,504 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Personalis by 438.0% in 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 in the last quarter. 61.91% of the stock is owned by hedge funds and other 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.