ARK Investment Management LLC Has $25.23 Million Position in Personalis, Inc. (NASDAQ:PSNL)

Key Points

• ARK Investment Management LLC has increased its stake in Personalis, Inc. by 6.1%, now holding approximately 8.14% of the company with a total value of $25.23 million.
• Personalis reported noteworthy earnings, surpassing expectations with earnings per share (EPS) of ($0.18) compared to a consensus estimate of ($0.23).
• Research analysts currently rate Personalis with a consensus "Buy" rating and expect a target price of $7.67 amidst market fluctuations, with the stock recently down by 3.3%.

ARK Investment Management LLC boosted its stake in shares of Personalis, Inc. (NASDAQ:PSNL - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,188,197 shares of the company's stock after purchasing an additional 412,762 shares during the quarter. ARK Investment Management LLC owned about 8.14% of Personalis worth $25,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSNL. AIGH Capital Management LLC raised its stake in shares of Personalis by 4.5% in the first quarter. AIGH Capital Management LLC now owns 3,968,948 shares of the company's stock worth $13,931,000 after purchasing an additional 169,884 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Personalis by 18.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,704 shares of the company's stock valued at $62,000 after purchasing an additional 2,724 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of Personalis by 104.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 39,600 shares of the company's stock worth $229,000 after acquiring an additional 20,200 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of Personalis in the fourth quarter worth approximately $60,000. Finally, Williams Jones Wealth Management LLC. boosted its stake in shares of Personalis by 765.0% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 134,072 shares of the company's stock worth $775,000 after acquiring an additional 118,572 shares during the last quarter. 61.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC restated a "buy" rating and issued a $7.00 target price on shares of Personalis in a research report on Thursday, April 10th. Guggenheim assumed coverage on Personalis in a report on Thursday, May 15th. They set a "buy" rating and a $6.00 price target on the stock. Finally, HC Wainwright upped their price target on Personalis from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $7.67.

Personalis Stock Performance

Shares of NASDAQ PSNL traded up $0.21 during midday trading on Wednesday, reaching $5.79. 500,285 shares of the company's stock were exchanged, compared to its average volume of 1,055,853. Personalis, Inc. has a 52-week low of $2.81 and a 52-week high of $7.79. The stock has a market capitalization of $511.20 million, a PE ratio of -4.47 and a beta of 1.95. The business's fifty day moving average price is $6.01 and its two-hundred day moving average price is $4.91.

Personalis (NASDAQ:PSNL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. The company had revenue of $20.61 million during the quarter, compared to the consensus estimate of $17.41 million. Personalis had a negative return on equity of 48.78% and a negative net margin of 98.10%. Analysts predict that Personalis, Inc. will post -1.4 earnings per share for the current fiscal year.

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.