Personalis (NASDAQ:PSNL) Shares Down 7.4% - What's Next?

Key Points

• Personalis, Inc. (NASDAQ:PSNL) saw its stock price drop by 7.4%, closing at $5.70 after trading as low as $5.65 on Tuesday.
• Several analysts have rated PSNL with a consensus "Buy" rating and set an average target price of $7.67, indicating potential upside from the current price.
• The company reported better-than-expected quarterly earnings of ($0.18) per share, beating the consensus estimate by $0.05.

Personalis, Inc. (NASDAQ:PSNL - Get Free Report)'s stock price was down 7.4% during trading on Tuesday . The stock traded as low as $5.65 and last traded at $5.70. Approximately 983,709 shares traded hands during trading, a decline of 7% from the average daily volume of 1,056,524 shares. The stock had previously closed at $6.15.

Analysts Set New Price Targets

Several equities research analysts have commented on PSNL shares. Guggenheim began coverage on Personalis in a research note on Thursday, May 15th. They set a "buy" rating and a $6.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $7.00 target price on shares of Personalis in a report on Thursday, April 10th. Finally, HC Wainwright boosted their target price on Personalis from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Personalis currently has a consensus rating of "Buy" and an average target price of $7.67.

Personalis Stock Performance

The stock's 50-day moving average price is $6.00 and its 200-day moving average price is $4.91. The company has a market capitalization of $492.83 million, a price-to-earnings ratio of -4.33 and a beta of 1.95.

Personalis (NASDAQ:PSNL - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $20.61 million during the quarter, compared to the consensus estimate of $17.41 million. Personalis had a negative return on equity of 48.78% and a negative net margin of 98.10%. Analysts anticipate that Personalis, Inc. will post -1.4 earnings per share for the current year.

Institutional Trading of Personalis

A number of institutional investors have recently added to or reduced their stakes in the business. Lightspeed Management Company L.L.C. acquired a new position in Personalis in the 4th quarter worth $47,169,000. ARK Investment Management LLC lifted its holdings in Personalis by 6.1% in the 1st quarter. ARK Investment Management LLC now owns 7,188,197 shares of the company's stock worth $25,231,000 after buying an additional 412,762 shares in the last quarter. AIGH Capital Management LLC lifted its holdings in Personalis by 4.5% in the 1st quarter. AIGH Capital Management LLC now owns 3,968,948 shares of the company's stock worth $13,931,000 after buying an additional 169,884 shares in the last quarter. Aberdeen Group plc raised its stake in shares of Personalis by 3.2% in the 2nd quarter. Aberdeen Group plc now owns 1,759,497 shares of the company's stock valued at $11,542,000 after purchasing an additional 54,713 shares in the last quarter. Finally, Blue Water Life Science Advisors LP raised its stake in shares of Personalis by 13.3% in the 4th quarter. Blue Water Life Science Advisors LP now owns 1,132,900 shares of the company's stock valued at $6,548,000 after purchasing an additional 132,900 shares in the last quarter. 61.91% of the stock is owned by hedge funds and other 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.

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