Personalis' (PSNL) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Personalis (NASDAQ:PSNL - Free Report) in a research note released on Friday morning,Benzinga reports. The firm currently has a $7.25 target price on the stock.

Personalis Stock Up 9.3 %

Shares of Personalis stock traded up $0.49 during mid-day trading on Friday, reaching $5.75. 8,026,276 shares of the stock traded hands, compared to its average volume of 766,251. The stock has a market capitalization of $406.23 million, a PE ratio of -3.42 and a beta of 1.88. The business has a 50-day moving average of $4.35 and a 200 day moving average of $3.85. Personalis has a fifty-two week low of $1.12 and a fifty-two week high of $7.20.

Personalis (NASDAQ:PSNL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.31). The firm had revenue of $25.71 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted ($0.51) EPS. On average, equities research analysts expect that Personalis will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Personalis

A number of hedge funds have recently modified their holdings of PSNL. nVerses Capital LLC acquired a new stake in shares of Personalis during the third quarter valued at about $40,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased 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 purchasing an additional 4,504 shares during the last quarter. International Assets Investment Management LLC raised its position in Personalis by 438.0% in the third quarter. International Assets Investment Management LLC now owns 20,982 shares of the company's stock valued at $113,000 after purchasing an additional 17,082 shares during the period. Quantbot Technologies LP acquired a new position in Personalis during the third quarter worth $210,000. Finally, Barclays PLC lifted its stake in Personalis by 45.4% during the third quarter. Barclays PLC now owns 65,468 shares of the company's stock worth $352,000 after purchasing an additional 20,444 shares in the last quarter. Hedge funds and other institutional investors own 61.91% of the company's stock.

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.