Personalis (NASDAQ:PSNL) Stock Price Up 8.7% – Here’s What Happened

Personalis, Inc. (NASDAQ:PSNL) rose 8.7% on Friday . The stock traded as high as $18.40 and last traded at $18.35. Approximately 2,419,398 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 2,638,447 shares. The stock had previously closed at $16.88.

Wall Street Analyst Weigh In

PSNL has been the topic of several analyst reports. Zacks Research lowered shares of Personalis from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Morgan Stanley raised 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. TD Cowen reissued a “buy” rating on shares of Personalis in a research note on Wednesday, July 15th. Finally, Lake Street Capital lowered shares of Personalis from a “buy” rating to a “hold” rating and set a $16.25 price target for the company. in a research report on Monday, July 20th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Personalis currently has an average rating of “Hold” and an average target price of $14.25.

Personalis Stock Performance

The company’s 50 day moving average price is $13.30 and its 200 day moving average price is $9.68. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -16.86 and a beta of 2.27.

Personalis (NASDAQ:PSNL) last posted its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04). The firm had revenue of $22.36 million during the quarter, compared to the consensus estimate of $16.69 million. Personalis had a negative return on equity of 46.47% and a negative net margin of 153.84%. As a group, analysts predict that Personalis, Inc. will post -1.07 EPS for the current year.

Insider Activity at Personalis

In other news, CFO Aaron Tachibana sold 4,982 shares of Personalis stock in a transaction that occurred 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 transaction, the chief financial officer owned 198,833 shares in the company, valued at approximately $2,783,662. The trade was a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred on Thursday, July 9th. The stock was sold at an average price of $15.08, for a total value of $1,508,000.00. Following the completion of the transaction, the chief executive officer directly owned 235,986 shares in the company, valued at $3,558,668.88. The trade was 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. In the last ninety days, insiders have sold 435,032 shares of company stock valued at $5,599,929. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Personalis by 3.2% during the first quarter. Royal Bank of Canada now owns 78,341 shares of the company’s stock worth $275,000 after buying an additional 2,395 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Personalis by 75.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 76,729 shares of the company’s stock valued at $269,000 after acquiring an additional 33,044 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Personalis by 55.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 284,426 shares of the company’s stock valued at $998,000 after acquiring an additional 101,706 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Personalis during the 1st quarter valued at $47,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Personalis by 505.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,491 shares of the company’s stock valued at $193,000 after purchasing an additional 24,621 shares during the period. 61.91% of the stock is currently owned by institutional investors and hedge funds.

About Personalis

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.