Personalis (NASDAQ:PSNL) Trading 7% Higher - Time to Buy?

Personalis, Inc. (NASDAQ:PSNL - Get Free Report)'s share price rose 7% during mid-day trading on Wednesday . The stock traded as high as $6.67 and last traded at $6.67. Approximately 521,409 shares traded hands during trading, a decline of 50% from the average daily volume of 1,053,039 shares. The stock had previously closed at $6.23.

Wall Street Analysts Forecast Growth

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

Personalis Stock Down 1.7%

The business's 50-day simple moving average is $4.70 and its two-hundred day simple moving average is $4.64. The firm has a market cap of $567.01 million, a price-to-earnings ratio of -4.98 and a beta of 1.86.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Lightspeed Management Company L.L.C. purchased a new stake in Personalis in the 4th quarter worth $47,169,000. Aberdeen Group plc grew its position in shares of Personalis by 472.3% in the first quarter. Aberdeen Group plc now owns 1,704,784 shares of the company's stock valued at $5,984,000 after purchasing an additional 1,406,895 shares during the period. ARK Investment Management LLC increased its stake in shares of 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 purchasing an additional 412,762 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Personalis by 144.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 410,083 shares of the company's stock worth $2,372,000 after purchasing an additional 242,141 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Personalis by 144.3% during the 4th quarter. Jane Street Group LLC now owns 401,314 shares of the company's stock worth $2,320,000 after purchasing an additional 237,033 shares during the last quarter. 61.91% of the stock is owned by institutional investors and hedge funds.

Personalis Company Profile

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.