Personalis (NASDAQ:PSNL) Trading Down 6.1% - Here's Why

Personalis, Inc. (NASDAQ:PSNL - Get Free Report) dropped 6.1% on Thursday . The stock traded as low as $6.80 and last traded at $6.72. Approximately 245,926 shares traded hands during trading, a decline of 77% from the average daily volume of 1,061,965 shares. The stock had previously closed at $7.16.

Wall Street Analysts Forecast Growth

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

Personalis Stock Performance

The stock has a fifty day moving average of $5.61 and a 200 day moving average of $4.89. The company has a market capitalization of $611.17 million, a P/E ratio of -5.36 and a beta of 1.95.

Personalis (NASDAQ:PSNL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $20.61 million for the quarter, compared to analysts' expectations of $17.41 million. Research analysts anticipate that Personalis, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Personalis

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Personalis by 55.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 284,426 shares of the company's stock worth $998,000 after buying an additional 101,706 shares in the last quarter. Focus Partners Wealth purchased a new stake in Personalis in the 1st quarter worth $47,000. Dynamic Technology Lab Private Ltd increased its stake in Personalis by 75.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 76,729 shares of the company's stock worth $269,000 after buying an additional 33,044 shares in the last quarter. Royal Bank of Canada increased its stake in Personalis by 3.2% in the 1st quarter. Royal Bank of Canada now owns 78,341 shares of the company's stock worth $275,000 after buying an additional 2,395 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in Personalis by 455.0% in the 1st quarter. Trexquant Investment LP now owns 122,959 shares of the company's stock worth $432,000 after buying an additional 100,804 shares in the last quarter. Hedge funds and other institutional investors own 61.91% of the company's stock.

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.