Nikko Asset Management Americas Inc. Decreases Holdings in Personalis, Inc. (NASDAQ:PSNL)

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Personalis, Inc. by 7.8%, selling 57,339 shares and now owns approximately 0.77% of the company valued at $2,366,000.
• Several institutional investors have increased their stakes in Personalis, with Lightspeed Management investing approximately $47 million and Dimensional Fund Advisors increasing their position by 144.2% in the fourth quarter.
• Analysts have a buy rating for Personalis, with a target price ranging from $6.00 to $9.00, indicating positive expectations for the company's future performance.

Nikko Asset Management Americas Inc. lowered its stake in Personalis, Inc. (NASDAQ:PSNL - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 675,974 shares of the company's stock after selling 57,339 shares during the period. Nikko Asset Management Americas Inc. owned approximately 0.77% of Personalis worth $2,366,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Personalis in the fourth quarter worth about $28,000. JPMorgan Chase & Co. boosted its position in Personalis by 2,827.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company's stock valued at $34,000 after acquiring an additional 5,654 shares in the last quarter. Alpine Global Management LLC bought a new stake in Personalis during the 4th quarter valued at approximately $60,000. China Universal Asset Management Co. Ltd. boosted its position in Personalis by 18.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,704 shares of the company's stock valued at $62,000 after acquiring an additional 2,724 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Personalis during the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 61.91% of the company's stock.

Analyst Upgrades and Downgrades

PSNL has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on shares of Personalis in a report on Thursday, May 15th. They issued a "buy" rating and a $6.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $7.00 target price on shares of Personalis in a research note on Thursday, April 10th. Finally, HC Wainwright boosted their target price on shares of Personalis from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Personalis presently has a consensus rating of "Buy" and a consensus target price of $7.67.

Personalis Price Performance

Shares of NASDAQ:PSNL traded up $0.18 during midday trading on Wednesday, hitting $5.76. The company had a trading volume of 380,362 shares, compared to its average volume of 1,055,034. The company has a market cap of $508.81 million, a price-to-earnings ratio of -4.46 and a beta of 1.95. Personalis, Inc. has a 12-month low of $2.81 and a 12-month high of $7.79. The company has a fifty day moving average of $6.01 and a two-hundred day moving average of $4.91.

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

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.