Engineers Gate Manager LP Invests $1.55 Million in Personalis, Inc. $PSNL

Key Points

• Engineers Gate Manager LP acquired 115,842 Personalis shares worth approximately $1.55 million, representing a 0.11% stake. Institutional investors collectively own 61.91% of the company, with Merck, BlackRock and other firms also establishing positions.
• Analyst sentiment is mixed but currently centers on a “Hold” consensus, with an average price target of $14.54. Four analysts rate the stock Buy, five Hold and one Sell.
• Personalis shares opened at $16.11, near the upper end of their 52-week range, while executives sold shares under pre-arranged trading plans; insiders sold 256,233 shares worth $3.57 million over the past three months. The company also missed quarterly EPS estimates despite revenue exceeding expectations.

Engineers Gate Manager LP acquired a new stake in shares of Personalis, Inc. (NASDAQ:PSNL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 115,842 shares of the company's stock, valued at approximately $1,552,000. Engineers Gate Manager LP owned 0.11% of Personalis as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Merck & Co. Inc. purchased a new stake in Personalis during the 2nd quarter valued at $188,202,236. BlackRock Inc. purchased a new position in shares of Personalis in the 2nd quarter worth $94,905,000. Bank of America Corp DE purchased a new position in shares of Personalis in the 2nd quarter worth $24,395,000. AIGH Capital Management LLC purchased a new position in shares of Personalis in the 2nd quarter worth $22,981,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Personalis by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,066,248 shares of the company's stock worth $6,791,000 after acquiring an additional 83,074 shares during the period. Hedge funds and other institutional investors own 61.91% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PSNL. Morgan Stanley upped their price objective on Personalis from $9.00 to $13.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Lake Street Capital cut Personalis from a "buy" rating to a "hold" rating and set a $16.25 target price on the stock. in a research report on Monday, July 20th. Zacks Research upgraded Personalis from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Needham & Company LLC lowered shares of Personalis from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Personalis from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.54.

Insider Buying and Selling

In other Personalis news, CFO Aaron Tachibana sold 51,251 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $13.18, for a total value of $675,488.18. Following the completion of the transaction, the chief financial officer directly owned 198,833 shares in the company, valued at $2,620,618.94. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Hall sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $15.08, for a total value of $1,508,000.00. Following the completion of the transaction, the chief executive officer owned 235,986 shares of the company's stock, valued at $3,558,668.88. The trade was a 29.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 256,233 shares of company stock worth $3,568,236. 4.20% of the stock is owned by insiders.

Personalis Stock Up 0.1%

NASDAQ:PSNL opened at $16.11 on Thursday. The business's 50-day simple moving average is $14.96 and its two-hundred day simple moving average is $10.74. The stock has a market cap of $1.69 billion, a PE ratio of -14.78 and a beta of 2.31. Personalis, Inc. has a 52 week low of $4.95 and a 52 week high of $18.89.

Personalis (NASDAQ:PSNL - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.04). Personalis had a negative return on equity of 46.47% and a negative net margin of 153.84%.The business had revenue of $22.36 million during the quarter, compared to the consensus estimate of $16.69 million. Sell-side analysts anticipate that Personalis, Inc. will post -1.07 earnings per share for the current fiscal year.

Personalis Profile

Personalis, Inc is a genomics company focused on precision oncology and advanced molecular testing. The company develops and commercializes genomic products designed to help identify, monitor and characterize cancer, supporting more informed treatment decisions and the development of targeted therapies.

Its offerings include tissue- and blood-based tumor profiling, liquid biopsy testing and immune profiling. Personalis' technologies are designed to detect and track tumor-derived signals, evaluate genomic alterations and provide insights into the interaction between cancer and the immune system.

Want to see what other hedge funds are holding PSNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Personalis, Inc. (NASDAQ:PSNL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.