Needham & Company LLC Forecasts Strong Price Appreciation for Personalis (NASDAQ:PSNL) Stock

Personalis (NASDAQ:PSNL) had its price objective upped by equities research analysts at Needham & Company LLC from $12.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 9.11% from the stock’s previous close.

A number of other equities analysts have also commented on PSNL. TD Cowen reiterated a “buy” rating on shares of Personalis in a research note on Wednesday. Morgan Stanley increased their target price on Personalis from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Wall Street Zen downgraded Personalis from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Personalis in a report on Tuesday, April 21st. Finally, BTIG Research reduced their price objective on Personalis from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Personalis Trading Down 1.3%

Shares of Personalis stock opened at $15.58 on Friday. The firm has a fifty day simple moving average of $10.75 and a 200-day simple moving average of $8.85. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -15.27 and a beta of 2.24. Personalis has a 1-year low of $3.84 and a 1-year high of $16.15.

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

Insider Transactions at Personalis

In other news, CEO Christopher M. Hall sold 100,000 shares of Personalis stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $13.15, for a total transaction of $1,315,000.00. Following the sale, the chief executive officer directly owned 235,986 shares in the company, valued at approximately $3,103,215.90. The trade was a 29.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Tachibana sold 51,251 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $13.18, for a total transaction of $675,488.18. Following the completion of the sale, the chief financial officer directly owned 198,833 shares in the company, valued at approximately $2,620,618.94. The trade was a 20.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 435,032 shares of company stock valued at $5,599,929 over the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Personalis

A number of institutional investors have recently added to or reduced their stakes in PSNL. Bank of America Corp DE raised its holdings in shares of Personalis by 85.4% in the 1st quarter. Bank of America Corp DE now owns 111,306 shares of the company’s stock worth $709,000 after buying an additional 51,273 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Personalis in the first quarter valued at $192,000. ADAR1 Capital Management LLC acquired a new position in Personalis during the first quarter worth $159,000. Sei Investments Co. raised its stake in Personalis by 148.3% during the first quarter. Sei Investments Co. now owns 139,046 shares of the company’s stock worth $886,000 after acquiring an additional 83,040 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Personalis by 8.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,066,248 shares of the company’s stock valued at $6,791,000 after acquiring an additional 83,074 shares during the period. 61.91% of the stock is owned by institutional investors and hedge funds.

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.