Personalis (NASDAQ:PSNL) Shares Up 7% - Should You Buy?

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PSNL shares. Craig Hallum started coverage on Personalis in a research report on Monday, March 17th. They set a "buy" rating and a $8.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $7.00 target price on shares of Personalis in a research report on Thursday, April 10th. Guggenheim assumed coverage on Personalis in a research report on Thursday, May 15th. They set a "buy" rating and a $6.00 price target for the company. Finally, HC Wainwright increased their price objective on Personalis from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $7.67.

Personalis Stock Performance

The firm has a market capitalization of $580.88 million, a PE ratio of -5.11 and a beta of 1.86. The stock's 50 day simple moving average is $4.50 and its two-hundred day simple moving average is $4.59.

Personalis (NASDAQ:PSNL - Get Free Report) last posted its 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 company had revenue of $20.61 million for the quarter, compared to analyst estimates of $17.41 million. Personalis had a negative net margin of 98.10% and a negative return on equity of 48.78%. Equities research analysts expect that Personalis, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Personalis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Personalis during the 4th quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its holdings in shares of Personalis by 2,827.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company's stock valued at $34,000 after buying an additional 5,654 shares in the last quarter. Olympiad Research LP purchased a new position in shares of Personalis during the fourth quarter worth about $59,000. Alpine Global Management LLC acquired a new stake in shares of Personalis during the fourth quarter worth about $60,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Personalis in the 4th quarter valued at about $64,000. 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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