HC Wainwright Has Lowered Expectations for Personalis (NASDAQ:PSNL) Stock Price

Personalis (NASDAQ:PSNL) had its price objective reduced by equities researchers at HC Wainwright from $11.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 30.72% from the stock’s previous close.

Several other research firms have also weighed in on PSNL. Lake Street Capital raised their price objective on shares of Personalis from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.25 price target on shares of Personalis in a report on Wednesday, January 8th.

Personalis Trading Down 0.5 %

PSNL stock opened at $6.12 on Monday. Personalis has a 1-year low of $1.12 and a 1-year high of $7.20. The business’s 50 day moving average is $4.82 and its 200-day moving average is $4.69. The firm has a market cap of $432.38 million, a P/E ratio of -3.64 and a beta of 1.75.

Personalis (NASDAQ:PSNL) last released its quarterly earnings data 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). Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. The company had revenue of $25.71 million for the quarter, compared to analyst estimates of $20.67 million. During the same quarter in the prior year, the company earned ($0.51) earnings per share. Sell-side analysts forecast that Personalis will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PSNL. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Personalis by 42.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 15,103 shares of the company’s stock valued at $81,000 after acquiring an additional 4,504 shares during the period. nVerses Capital LLC bought a new position in shares of Personalis in the 3rd quarter valued at about $40,000. SG Americas Securities LLC bought a new stake in shares of Personalis during the fourth quarter worth approximately $63,000. China Universal Asset Management Co. Ltd. acquired a new position in Personalis in the fourth quarter valued at approximately $87,000. Finally, International Assets Investment Management LLC boosted its stake 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 acquiring an additional 17,082 shares during the last quarter. 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.