Personalis (NASDAQ:PSNL) Trading Down 4.8% – Here’s What Happened

Personalis, Inc. (NASDAQ:PSNL) traded down 4.8% on Friday . The stock traded as low as $9.97 and last traded at $9.9750. 209,223 shares were traded during mid-day trading, a decline of 81% from the average session volume of 1,122,976 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

PSNL has been the topic of several recent analyst reports. HC Wainwright raised their price objective on Personalis from $8.50 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their price objective on shares of Personalis from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Personalis in a report on Wednesday, October 8th. Lake Street Capital restated a “buy” rating and issued a $11.00 price objective on shares of Personalis in a report on Wednesday, November 5th. Finally, Guggenheim lifted their target price on shares of Personalis from $6.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.57.

Personalis Trading Down 9.8%

The company has a market capitalization of $839.16 million, a P/E ratio of -10.75 and a beta of 1.99. The firm has a fifty day moving average of $8.70 and a 200 day moving average of $6.70.

Personalis (NASDAQ:PSNL) last posted its earnings results on Tuesday, November 4th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Personalis had a negative return on equity of 38.25% and a negative net margin of 106.92%.The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $13.31 million. Sell-side analysts anticipate that Personalis, Inc. will post -1.4 EPS for the current fiscal year.

Insider Activity

In other Personalis news, CEO Christopher M. Hall sold 29,612 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $8.99, for a total transaction of $266,211.88. Following the completion of the transaction, the chief executive officer owned 148,486 shares in the company, valued at $1,334,889.14. The trade was a 16.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron Tachibana sold 103,668 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $10.78, for a total value of $1,117,541.04. Following the transaction, the chief financial officer directly owned 164,458 shares in the company, valued at approximately $1,772,857.24. This represents a 38.66% decrease in their position. The SEC filing for this sale provides additional information. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Personalis in the 2nd quarter valued at about $30,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Personalis in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets grew its stake in Personalis by 406.4% in the second quarter. BNP Paribas Financial Markets now owns 6,451 shares of the company’s stock worth $42,000 after purchasing an additional 5,177 shares in the last quarter. Focus Partners Wealth purchased a new position in Personalis during the 1st quarter worth $47,000. Finally, Alpha Wealth Funds LLC purchased a new position in Personalis during the 2nd quarter worth $66,000. Hedge funds and other institutional investors 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.