Personalis (NASDAQ:PSNL) Hits New 12-Month High - Time to Buy?

Personalis, Inc. (NASDAQ:PSNL - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $7.42 and last traded at $7.22, with a volume of 787852 shares changing hands. The stock had previously closed at $6.57.

Analysts Set New Price Targets

PSNL has been the topic of several analyst reports. HC Wainwright lifted their target price on Personalis from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $7.00 price objective on shares of Personalis in a research report on Thursday, April 10th. Craig Hallum started coverage on Personalis in a research report on Monday, March 17th. They issued a "buy" rating and a $8.00 price objective on the stock. Finally, Guggenheim started coverage on Personalis in a research report on Thursday, May 15th. They issued a "buy" rating and a $6.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.67.

Personalis Price Performance

The company has a 50-day moving average price of $5.36 and a 200 day moving average price of $4.84. The firm has a market capitalization of $667.26 million, a PE ratio of -5.86 and a beta of 1.95.

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

Institutional Investors Weigh In On Personalis

Several large investors have recently added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. bought a new stake in Personalis during the fourth quarter worth approximately $47,169,000. ARK Investment Management LLC increased its stake in Personalis by 6.1% during the first quarter. ARK Investment Management LLC now owns 7,188,197 shares of the company's stock worth $25,231,000 after acquiring an additional 412,762 shares during the last quarter. AIGH Capital Management LLC increased its stake in Personalis by 4.5% during the first quarter. AIGH Capital Management LLC now owns 3,968,948 shares of the company's stock worth $13,931,000 after acquiring an additional 169,884 shares during the last quarter. Aberdeen Group plc increased its stake in Personalis by 472.3% during the first quarter. Aberdeen Group plc now owns 1,704,784 shares of the company's stock worth $5,984,000 after acquiring an additional 1,406,895 shares during the last quarter. Finally, Blue Water Life Science Advisors LP increased its stake in Personalis by 13.3% during the fourth quarter. Blue Water Life Science Advisors LP now owns 1,132,900 shares of the company's stock worth $6,548,000 after acquiring an additional 132,900 shares during the last quarter. 61.91% of the stock is owned by institutional investors.

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.