Personalis (NASDAQ:PSNL) Shares Gap Up – Should You Buy?

Shares of Personalis, Inc. (NASDAQ:PSNL) gapped up before the market opened on Wednesday . The stock had previously closed at $6.04, but opened at $6.82. Personalis shares last traded at $6.6670, with a volume of 1,246,028 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSNL. Wall Street Zen lowered shares of Personalis from a “hold” rating to a “sell” rating in a research report on Saturday. BTIG Research cut their price objective on shares of Personalis from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley cut their price objective on shares of Personalis from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday. Needham & Company LLC increased their price objective on shares of Personalis from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Guggenheim increased their price objective on shares of Personalis from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 26th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Personalis Stock Up 10.6%

The company’s fifty day simple moving average is $6.76 and its two-hundred day simple moving average is $8.15. The company has a market capitalization of $699.53 million, a price-to-earnings ratio of -6.59 and a beta of 1.96.

Personalis (NASDAQ:PSNL) last posted its earnings results on Thursday, May 7th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $14.49 million. Personalis had a negative return on equity of 43.52% and a negative net margin of 148.11%. Equities research analysts expect that Personalis, Inc. will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On Personalis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Personalis by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,066,248 shares of the company’s stock worth $6,791,000 after purchasing an additional 83,074 shares during the period. AlphaCentric Advisors LLC boosted its stake in Personalis by 34.0% in the 1st quarter. AlphaCentric Advisors LLC now owns 64,032 shares of the company’s stock worth $408,000 after purchasing an additional 16,236 shares during the period. Swiss National Bank acquired a new position in Personalis in the 1st quarter worth $671,000. Janney Montgomery Scott LLC boosted its stake in Personalis by 150.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 75,000 shares of the company’s stock worth $478,000 after purchasing an additional 45,000 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted 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. 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.