Personalis (NASDAQ:PSNL) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC cut shares of Personalis (NASDAQ:PSNL) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat reports.

A number of other equities analysts have also recently commented on the stock. BTIG Research cut their price target on shares of Personalis from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Personalis in a research report on Tuesday, April 21st. Morgan Stanley lifted their price objective 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. Wall Street Zen lowered shares of Personalis from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, TD Cowen restated a “buy” rating on shares of Personalis in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.25.

Personalis Stock Down 7.2%

NASDAQ:PSNL opened at $12.47 on Monday. The stock has a market cap of $1.31 billion, a P/E ratio of -12.23 and a beta of 2.24. The business’s 50-day moving average price is $11.36 and its two-hundred day moving average price is $9.01. Personalis has a twelve month low of $3.84 and a twelve month high of $16.39.

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

Insider Buying and Selling at Personalis

In other Personalis news, CFO Aaron Tachibana sold 4,982 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $14.00, for a total value of $69,748.00. Following the completion of the sale, the chief financial officer directly owned 198,833 shares of the company’s stock, valued at $2,783,662. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’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 transaction, the chief executive officer directly owned 235,986 shares in the company, valued at $3,558,668.88. This trade represents a 29.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 435,032 shares of company stock valued at $5,599,929 over the last three months. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Personalis

Several institutional investors have recently bought and sold shares of PSNL. Caitong International Asset Management Co. Ltd increased its stake in Personalis by 76.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,423 shares of the company’s stock worth $27,000 after purchasing an additional 1,479 shares during the period. International Assets Investment Management LLC bought a new stake in Personalis in the fourth quarter valued at approximately $31,000. Legal & General Group Plc purchased a new stake in shares of Personalis during the second quarter valued at approximately $30,000. BNP Paribas Financial Markets boosted its stake in shares of Personalis by 406.4% during the second 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 during the period. Finally, AQR Capital Management LLC bought a new position in shares of Personalis in the fourth quarter worth approximately $82,000. 61.91% of the stock is currently owned by hedge funds and other institutional investors.

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.