Personalis (NASDAQ:PSNL) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Personalis (NASDAQ:PSNL) in a research report released on Friday, Benzinga reports. Needham & Company LLC currently has a $3.50 target price on the stock.

Separately, Lake Street Capital initiated coverage on shares of Personalis in a research note on Tuesday, April 30th. They set a buy rating and a $4.00 target price for the company.

Personalis Price Performance

Personalis stock opened at $1.22 on Friday. The firm has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.49. The stock has a market cap of $63.37 million, a price-to-earnings ratio of -0.64 and a beta of 1.87. Personalis has a 1-year low of $0.89 and a 1-year high of $2.43.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.18. Personalis had a negative return on equity of 58.31% and a negative net margin of 124.89%. The company had revenue of $19.53 million during the quarter, compared to analyst estimates of $18.49 million. Equities analysts expect that Personalis will post -1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PSNL. Public Employees Retirement System of Ohio purchased a new position in Personalis in the 1st quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in Personalis during the 1st quarter worth about $41,000. Pathstone Family Office LLC increased its holdings in Personalis by 149.3% during the 3rd quarter. Pathstone Family Office LLC now owns 37,081 shares of the company’s stock worth $45,000 after purchasing an additional 22,204 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Personalis by 58.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 95,000 shares of the company’s stock worth $142,000 after purchasing an additional 34,900 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Personalis in the 4th quarter valued at about $152,000. Institutional investors and hedge funds 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.