Personalis (NASDAQ:PSNL) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Personalis (NASDAQ:PSNL) had its price objective lifted by investment analysts at Lake Street Capital from $7.00 to $9.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price target would indicate a potential upside of 60.71% from the stock’s current price.

Several other brokerages have also weighed in on PSNL. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of Personalis in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $7.25 price objective on shares of Personalis in a report on Wednesday.

Personalis Price Performance

NASDAQ:PSNL opened at $5.60 on Wednesday. The firm has a 50-day moving average of $4.70 and a two-hundred day moving average of $4.33. The stock has a market cap of $395.63 million, a P/E ratio of -3.33 and a beta of 1.75. Personalis has a 1-year low of $1.12 and a 1-year high of $7.20.

Personalis (NASDAQ:PSNL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.31). Personalis had a negative net margin of 104.52% and a negative return on equity of 66.07%. The business had revenue of $25.71 million during the quarter, compared to analysts’ expectations of $20.67 million. During the same period in the prior year, the company posted ($0.51) EPS. As a group, equities analysts expect that Personalis will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Personalis

Institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC increased its stake in shares of Personalis by 11.4% in the third quarter. ARK Investment Management LLC now owns 7,085,523 shares of the company’s stock valued at $38,120,000 after purchasing an additional 723,637 shares during the period. Acadian Asset Management LLC raised its stake in Personalis by 6.7% during the 2nd quarter. Acadian Asset Management LLC now owns 1,057,956 shares of the company’s stock valued at $1,237,000 after acquiring an additional 66,128 shares in the last quarter. Geode Capital Management LLC raised its stake in Personalis by 20.0% during the 3rd quarter. Geode Capital Management LLC now owns 498,470 shares of the company’s stock valued at $2,683,000 after acquiring an additional 83,068 shares in the last quarter. State Street Corp boosted its position in Personalis by 34.5% during the 3rd quarter. State Street Corp now owns 175,142 shares of the company’s stock worth $942,000 after acquiring an additional 44,900 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Personalis in the third quarter worth $897,000. 61.91% of the stock is owned by institutional investors.

About Personalis

Personalis, Inc develops and markets advanced cancer genomic tests and analytics primarily in the United States, Europe, and the Asia-Pacific. Its tests and analytics are used by pharmaceutical companies for translational research, biomarker discovery, and development of personalized cancer therapies, as well as advanced tests are used by physicians to detect cancer recurrence, monitor cancer evolution, and uncover insights for therapy selection.