Needham & Company LLC Issues Positive Forecast for Personalis (NASDAQ:PSNL) Stock Price

Personalis (NASDAQ:PSNL) had its price objective hoisted by Needham & Company LLC from $12.00 to $17.00 in a report released on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

PSNL has been the subject of several other research reports. Wall Street Zen cut shares of Personalis from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. BTIG Research dropped their price target on shares of Personalis from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Morgan Stanley increased their price target on shares of Personalis from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. TD Cowen restated a “buy” rating on shares of Personalis in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Personalis in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Personalis Trading Down 1.2%

Shares of PSNL opened at $15.39 on Friday. The company’s 50 day simple moving average is $10.94 and its 200-day simple moving average is $8.90. The firm has a market cap of $1.61 billion, a PE ratio of -15.09 and a beta of 2.24. Personalis has a 12-month low of $3.84 and a 12-month high of $16.39.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The business had revenue of $15.47 million for the quarter, compared to analyst estimates of $14.48 million. Personalis had a negative return on equity of 43.52% and a negative net margin of 148.11%. As a group, equities research analysts forecast that Personalis will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aaron Tachibana sold 4,982 shares of Personalis stock in a transaction on Monday, June 29th. The stock was sold at an average price of $14.00, for a total value of $69,748.00. Following the transaction, the chief financial officer owned 198,833 shares in the company, valued at approximately $2,783,662. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher M. Hall sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $15.08, for a total value of $1,508,000.00. Following the sale, the chief executive officer directly owned 235,986 shares of the company’s stock, valued at approximately $3,558,668.88. This trade represents a 29.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 435,032 shares of company stock valued at $5,599,929. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Personalis

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in Personalis by 76.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,423 shares of the company’s stock worth $27,000 after acquiring an additional 1,479 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Personalis in the second quarter worth about $30,000. International Assets Investment Management LLC purchased a new position in Personalis in the fourth quarter valued at about $31,000. BNP Paribas Financial Markets grew its stake in Personalis by 406.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 6,451 shares of the company’s stock valued at $42,000 after purchasing an additional 5,177 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Personalis during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 61.91% of the company’s stock.

Personalis Company Profile

Personalis, Inc (NASDAQ: PSNL) is a clinical‐stage genomics company that develops and markets advanced next‐generation sequencing (NGS) services and assays designed to accelerate precision medicine. The Company’s core offering is the ImmunoID NeXT™ Platform, which combines comprehensive tumor profiling—including whole exome, transcriptome, and T‐cell receptor sequencing—with proprietary bioinformatics to identify biomarkers and guide immuno‐oncology research. Personalis serves biopharmaceutical companies, academic institutions, and clinical research organizations seeking in‐depth insights into cancer, autoimmune diseases and other complex conditions.

In addition to its flagship ImmunoID NeXT™ Platform, Personalis offers a suite of customizable sequencing assays for biomarker discovery, clinical trial support and companion diagnostic development.