Morgan Stanley Cuts Personalis (NASDAQ:PSNL) Price Target to $13.00

Personalis (NASDAQ:PSNL) had its target price lowered by equities researchers at Morgan Stanley from $16.00 to $13.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 71.28% from the stock’s previous close.

A number of other analysts have also weighed in on the company. ValuEngine upgraded Personalis from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. BidaskClub lowered Personalis from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $20.60.

Personalis stock traded up $0.59 during mid-day trading on Thursday, hitting $7.59. 167,327 shares of the company were exchanged, compared to its average volume of 525,676. The business has a fifty day moving average of $8.40 and a 200 day moving average of $10.72. Personalis has a 1-year low of $4.27 and a 1-year high of $31.88.

Personalis (NASDAQ:PSNL) last announced its earnings results on Wednesday, March 25th. The company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.04. On average, equities research analysts predict that Personalis will post -0.9 EPS for the current fiscal year.

In related news, insider Richard Chen sold 101,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $8.77, for a total value of $885,770.00. Following the transaction, the insider now owns 160,000 shares in the company, valued at $1,403,200. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its holdings in Personalis by 8.5% in the fourth quarter. Nuveen Asset Management LLC now owns 154,210 shares of the company’s stock valued at $1,681,000 after acquiring an additional 12,137 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Personalis by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 109,737 shares of the company’s stock valued at $1,196,000 after purchasing an additional 1,062 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Personalis during the 4th quarter valued at about $273,000. Gabelli Funds LLC lifted its holdings in shares of Personalis by 66.9% during the 4th quarter. Gabelli Funds LLC now owns 185,000 shares of the company’s stock valued at $2,017,000 after purchasing an additional 74,150 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Personalis by 260.5% during the 4th quarter. Bank of America Corp DE now owns 13,055 shares of the company’s stock valued at $143,000 after purchasing an additional 9,434 shares in the last quarter. Institutional investors and hedge funds own 55.78% of the company’s stock.

Personalis Company Profile

Personalis, Inc operates as a cancer genomics company worldwide. The company provides sequencing and data analysis services to support the development of cancer therapies. It offers NeXT Platform, which provides data for cancer therapy development, personalized therapies, therapy selection, and diagnostics.

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Analyst Recommendations for Personalis (NASDAQ:PSNL)

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