Personalis (NASDAQ:PSNL) Shares Up 7.4% - Here's Why

Personalis, Inc. (NASDAQ:PSNL - Get Free Report)'s share price was up 7.4% during mid-day trading on Wednesday . The company traded as high as $5.80 and last traded at $5.94. Approximately 393,724 shares changed hands during trading, a decline of 62% from the average daily volume of 1,032,335 shares. The stock had previously closed at $5.53.

Analyst Ratings Changes

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

Personalis Stock Performance

The business's 50-day moving average is $4.38 and its two-hundred day moving average is $4.55. The firm has a market capitalization of $530.83 million, a price-to-earnings ratio of -3.58 and a beta of 1.86.

Personalis (NASDAQ:PSNL - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.05. Personalis had a negative return on equity of 66.07% and a negative net margin of 104.52%. The business had revenue of $20.61 million during the quarter, compared to analysts' expectations of $17.41 million. Analysts forecast that Personalis, Inc. will post -1.4 EPS for the current year.

Institutional Trading of Personalis

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Personalis during the 4th quarter worth approximately $28,000. JPMorgan Chase & Co. lifted its holdings in Personalis by 2,827.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,854 shares of the company's stock valued at $34,000 after purchasing an additional 5,654 shares during the last quarter. Olympiad Research LP acquired a new stake in Personalis during the 4th quarter valued at $59,000. Alpine Global Management LLC acquired a new stake in shares of Personalis during the fourth quarter worth $60,000. Finally, SG Americas Securities LLC bought a new position in shares of Personalis in the fourth quarter worth $63,000. 61.91% of the stock is owned by institutional investors.

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.