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

Personalis (NASDAQ:PSNL)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $7.25 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 37.83% from the company’s current price.

Personalis Price Performance

PSNL stock opened at $5.26 on Friday. The firm has a 50 day simple moving average of $4.35 and a two-hundred day simple moving average of $3.85. The stock has a market cap of $371.61 million, a PE ratio of -3.13 and a beta of 1.88. Personalis has a one year low of $1.12 and a one year high of $7.20.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.31). The firm had revenue of $25.71 million for the quarter, compared to the consensus estimate of $20.67 million. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. During the same period last year, the firm earned ($0.51) EPS. On average, research analysts expect that Personalis will post -1.41 EPS for the current fiscal year.

Institutional Trading of Personalis

A number of institutional investors have recently made changes to their positions in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew 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 worth $81,000 after acquiring an additional 4,504 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Personalis in the 3rd quarter worth approximately $40,000. International Assets Investment Management LLC increased its stake in shares of Personalis by 438.0% during the third quarter. International Assets Investment Management LLC now owns 20,982 shares of the company’s stock valued at $113,000 after buying an additional 17,082 shares during the period. Barclays PLC lifted its stake in Personalis by 45.4% in the third quarter. Barclays PLC now owns 65,468 shares of the company’s stock worth $352,000 after acquiring an additional 20,444 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Personalis during the 3rd quarter valued at $210,000. Hedge funds and other institutional investors own 61.91% of the company’s stock.

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.