Personalis (NASDAQ:PSNL) Coverage Initiated at Lake Street Capital

Research analysts at Lake Street Capital initiated coverage on shares of Personalis (NASDAQ:PSNL) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Lake Street Capital’s target price would suggest a potential upside of 158.06% from the company’s previous close.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $3.50 target price on shares of Personalis in a research note on Thursday, April 11th.

Personalis Price Performance

Shares of NASDAQ PSNL opened at $1.55 on Tuesday. The firm’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.43. Personalis has a 12 month low of $0.89 and a 12 month high of $2.60. The stock has a market capitalization of $78.28 million, a price-to-earnings ratio of -0.69 and a beta of 1.95.

Personalis (NASDAQ:PSNL) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.07. The company had revenue of $19.68 million during the quarter, compared to analysts’ expectations of $19.56 million. Personalis had a negative net margin of 147.38% and a negative return on equity of 61.42%. Analysts anticipate that Personalis will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Personalis

A number of hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC boosted its stake in shares of Personalis by 16.6% in the fourth quarter. ARK Investment Management LLC now owns 6,671,545 shares of the company’s stock worth $14,010,000 after acquiring an additional 952,118 shares during the last quarter. State of Michigan Retirement System raised its holdings in Personalis by 11.3% in the 1st quarter. State of Michigan Retirement System now owns 493,798 shares of the company’s stock valued at $736,000 after acquiring an additional 50,000 shares during the last quarter. Bruce & Co. Inc. raised its holdings in Personalis by 100.0% in the 4th quarter. Bruce & Co. Inc. now owns 300,000 shares of the company’s stock valued at $630,000 after acquiring an additional 150,000 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Personalis in the 4th quarter worth approximately $152,000. Finally, Pathstone Family Office LLC boosted its holdings in shares of Personalis by 149.3% during the 3rd quarter. Pathstone Family Office LLC now owns 37,081 shares of the company’s stock worth $45,000 after purchasing an additional 22,204 shares during the last quarter. Institutional investors and hedge funds own 61.91% of the company’s stock.

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.