Reassessing The Changing Outlook For Personalis Inc. (PSNL)


    ARK Investment Management LLC recently announced the acquisition of new stake in Personalis Inc. (NASDAQ:PSNL). The institutional investor has increased its shareholding in the Healthcare company by 87.37% to 2.07 million shares with purchase of 0.96 million shares. This fresh investment now brings its stake to 6.52% valued currently at $36.02 million. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 1.42 million shares. And JPMorgan Investment Management, I.. has lifted its position by 3.99% or 49236.0 shares – to 1.28 million shares.

    With over 1.03 million Personalis Inc. (PSNL) shares trading Monday and a closing price of $22.82 on the day, the dollar volume was approximately $23.6 million. The shares have shown a positive weekly performance of 3.26% and its price on 08/31/20 gained nearly 3.40%. Currently, there are 31.73M common shares owned by the public and among those 18.91M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for PSNL have a consensus price objective of $25.80. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $23.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Personalis Inc. stock is 1.60 for the next 12 months. The average price target is 7.8% above its last price level and an upside to the estimated low will see the stock gain 0.78% over that period. But an upside of 23.93% will see the stock hit the forecast high price target while mean target price for the stock is $25.00.

    Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 998,184 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 257,358 shares.

    The top 3 mutual fund holders in Personalis Inc. are ARK Genomic Revolution ETF, JPMorgan Small Cap Growth Fund, and Vanguard Total Stock Market Index. ARK Genomic Revolution ETF owns 2.47 million shares of the company’s stock, all valued at over $43.08 million. The company bought an additional 8074.0 shares recently to bring their total holdings to about 7.80% of the shares outstanding. JPMorgan Small Cap Growth Fund bought 38079.0 shares to see its total holdings expand to 0.83 million shares valued at over $14.41 million and representing 2.61% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.58% of the shares outstanding.

    Shares of Personalis Inc. (NASDAQ: PSNL) opened at $22.36, up $0.29 from a prior closing price of $22.07. However, the script later closed the day at $22.82, up 3.40%. The company’s stock has a 5-day price change of 3.26% and 62.07% over the past three months. PSNL shares are trading 109.36% year to date (YTD), with the 12-month market performance up to 17.93% higher. It has a 12-month low price of $4.27 and touched a high of $24.87 over the same period. Currently, 1.03 million shares have been traded, compared to an average intraday trading volume of 430.24K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.28%, 28.10%, and 92.26% respectively.

    Institutional ownership of Personalis Inc. (NASDAQ: PSNL) shares accounts for 49.50% of the company’s 31.73M shares outstanding. Mutual fund holders own 22.76%, while other institutional holders and individual stakeholders account for 28.07% and 22.05% respectively.

    It has a market capitalization of $855.29M. The earnings-per-share (ttm) stands at -$1.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.81% over the week and 8.71% over the month.

    Analysts forecast that Personalis Inc. (PSNL) will achieve an EPS of -$0.3 for the current quarter, -$0.29 for the next quarter and -$1.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.32 while analysts give the company a high EPS estimate of -$0.28. Comparatively, EPS for the current quarter was -$0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -99.60%, and -2.50% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Personalis Inc. (PSNL) as a “Strong Buy” at a consensus score of 1.60. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the PSNL, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on August 27, 2020, with the firm’s price target at $30. Needham coverage for the Personalis Inc. (PSNL) stock in a research note released on August 18, 2020 offered a Buy rating with a price target of $25. BofA/Merrill was of a view on September 26, 2019 that the stock is Buy, while Oppenheimer gave the stock Outperform rating on July 15, 2019, issuing a price target of $29. Morgan Stanley on their part issued Overweight rating on July 15, 2019.


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