Personalis (NASDAQ:PSNL) Shares Down 6.1% - What's Next?

Personalis, Inc. (NASDAQ:PSNL - Get Free Report)'s stock price dropped 6.1% during trading on Thursday . The company traded as low as $6.80 and last traded at $6.72. Approximately 245,926 shares traded hands during mid-day 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 Analyst Weigh In

PSNL has been the topic of a number of analyst reports. Guggenheim initiated coverage on shares of Personalis in a research note on Thursday, May 15th. They issued a "buy" rating and a $6.00 price objective on the stock. HC Wainwright upped their price objective 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. Craig Hallum assumed coverage on shares of Personalis in a research note on Monday, March 17th. They issued a "buy" rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $7.00 target price on shares of Personalis in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Personalis has an average rating of "Buy" and a consensus price target of $7.67.

Personalis Trading Down 7.9%

The stock's 50-day moving average is $5.65 and its 200-day moving average is $4.87. The company has a market cap of $562.60 million, a price-to-earnings ratio of -4.94 and a beta of 1.95.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSNL. Raymond James Financial Inc. acquired a new position in Personalis during the fourth quarter worth $64,000. American Century Companies Inc. raised its holdings in Personalis by 98.8% during the fourth quarter. American Century Companies Inc. now owns 50,321 shares of the company's stock worth $291,000 after buying an additional 25,011 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Personalis during the fourth quarter worth $275,000. JPMorgan Chase & Co. raised its holdings in Personalis by 2,827.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company's stock worth $34,000 after buying an additional 5,654 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Personalis by 66.6% during the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,168 shares of the company's stock worth $145,000 after buying an additional 10,065 shares during the last quarter. Institutional investors and hedge funds 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.