Personalis (NASDAQ:PSNL) Stock Price Up 6.4% - Here's Why

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

Analyst Upgrades and Downgrades

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

Personalis Trading Up 0.6%

The stock's 50-day moving average price is $5.29 and its 200-day moving average price is $4.81. The stock has a market cap of $667.26 million, a price-to-earnings ratio of -5.86 and a beta of 1.95.

Personalis (NASDAQ:PSNL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $20.61 million for the quarter, compared to analysts' expectations of $17.41 million. As a group, analysts predict that Personalis, Inc. will post -1.4 earnings per share for the current year.

Institutional Trading of Personalis

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Personalis during the fourth quarter worth $64,000. American Century Companies Inc. increased its stake in Personalis by 98.8% in the fourth quarter. American Century Companies Inc. now owns 50,321 shares of the company's stock valued at $291,000 after purchasing an additional 25,011 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Personalis during the fourth quarter valued at about $275,000. JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 5,654 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Personalis by 66.6% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,168 shares of the company's stock valued at $145,000 after buying an additional 10,065 shares during the period. Institutional investors and hedge funds own 61.91% of the company's stock.

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.