Personalis, Inc. $PSNL Stock: Sumitomo Mitsui Trust Group Inc. Trims Position

Key Points

• Sumitomo Mitsui Trust Group cut its Personalis stake by 18.8% in the third quarter, selling 78,499 shares and retaining 338,989 shares worth about $5.52 million.
• Analyst sentiment is mostly neutral: two analysts rate PSNL Buy, seven Hold and one Sell, with a consensus price target of $15.29.
• Personalis reported quarterly revenue of $25.6 million, above expectations of $21.54 million, but its loss of $0.32 per share was wider than the $0.26 loss analysts forecast.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Personalis, Inc. (NASDAQ:PSNL - Free Report) by 18.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,989 shares of the company's stock after selling 78,499 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.32% of Personalis worth $5,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Merck & Co. Inc. acquired a new position in Personalis in the second quarter valued at $188,202,236. BlackRock Inc. purchased a new position in shares of Personalis during the second quarter worth about $94,905,000. Bank of America Corp DE purchased a new position in shares of Personalis during the second quarter worth about $24,395,000. AIGH Capital Management LLC purchased a new position in shares of Personalis during the second quarter worth about $22,981,000. Finally, Bank of New York Mellon Corp acquired a new position in Personalis in the 2nd quarter valued at about $2,533,000. 61.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSNL has been the topic of a number of research analyst reports. UBS Group downgraded Personalis from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 6th. Lake Street Capital cut Personalis from a "buy" rating to a "hold" rating and set a $16.25 price target for the company. in a research report on Monday, July 20th. Craig Hallum downgraded Personalis from a "buy" rating to a "hold" rating and set a $16.25 price target for the company. in a research note on Monday, August 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Personalis in a research report on Thursday, October 15th. Finally, BTIG Research cut shares of Personalis from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.29.

Personalis Price Performance

Personalis stock traded up $0.24 during mid-day trading on Friday, hitting $15.79. 3,000,174 shares of the company were exchanged, compared to its average volume of 2,460,835. The business's 50 day simple moving average is $16.18 and its two-hundred day simple moving average is $11.48. The company has a market capitalization of $1.65 billion, a P/E ratio of -13.50 and a beta of 2.40. Personalis, Inc. has a 12-month low of $4.95 and a 12-month high of $18.89.

Personalis (NASDAQ:PSNL - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $25.60 million during the quarter, compared to analysts' expectations of $21.54 million. Personalis had a negative net margin of 153.84% and a negative return on equity of 46.47%.

Insider Activity

In other Personalis news, CFO Aaron Tachibana sold 2,931 shares of the firm's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $16.22, for a total transaction of $47,540.82. Following the sale, the chief financial officer directly owned 195,902 shares of the company's stock, valued at $3,177,530.44. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Christopher Hall sold 7,459 shares of Personalis stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $16.22, for a total transaction of $120,984.98. Following the sale, the chief executive officer owned 228,527 shares of the company's stock, valued at approximately $3,706,707.94. This trade represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 16,456 shares of company stock worth $266,916. Company insiders own 4.20% of the company's stock.

Personalis Company Profile

Personalis, Inc is a genomics company focused on applying advanced sequencing and bioinformatics to cancer research and precision medicine. The company develops tests and data platforms designed to help researchers and clinicians characterize tumors, monitor disease, and support the development of targeted therapies.

Its product portfolio includes the NeXT Platform, which analyzes tumor and normal DNA and RNA to provide a detailed view of cancer biology, as well as products such as NeXT Dx, NeXT Liquid Biopsy, and NeXT Personal.

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.