Personalis (NASDAQ:PSNL) Stock Price Up 6.4% - Time to Buy?

Personalis, Inc. (NASDAQ:PSNL - Get Free Report) shares were up 6.4% on Monday . The company traded as high as $6.98 and last traded at $7.00. Approximately 348,981 shares changed hands during trading, a decline of 69% from the average daily volume of 1,121,066 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSNL shares. Craig Hallum started coverage on shares of Personalis in a report on Monday, March 17th. They issued 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 report on Thursday, April 10th. Guggenheim started coverage on shares of Personalis in a report on Thursday, May 15th. They issued a "buy" rating and a $6.00 target price on the stock. Finally, HC Wainwright boosted their target price on shares of 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, the stock has an average rating of "Buy" and a consensus target price of $7.67.

Personalis Trading Down 3.5%

The company has a market capitalization of $640.32 million, a price-to-earnings ratio of -5.62 and a beta of 1.95. The firm's fifty day simple moving average is $5.21 and its two-hundred day simple moving average is $4.78.

Personalis (NASDAQ:PSNL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.61 million for the quarter, compared to analyst estimates of $17.41 million. As a group, analysts forecast that Personalis, Inc. will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Personalis

Large investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Personalis in 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 worth $34,000 after buying an additional 5,654 shares in the last quarter. Alpine Global Management LLC acquired a new stake in Personalis during the 4th quarter worth approximately $60,000. Raymond James Financial Inc. acquired a new stake in Personalis during the 4th quarter worth approximately $64,000. Finally, Boothbay Fund Management LLC acquired a new stake in Personalis during the 4th quarter worth approximately $73,000. 61.91% of the stock is currently 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.