Aaron Tachibana, CFO and COO of Personalis, Inc. (NASDAQ:PSNL), recently sold 6,865 shares of the company's common stock. The shares were sold at a weighted average price of $3.82, with sale prices ranging from $3.65 to $3.91 per share. This transaction, which took place on December 16, 2024, amounted to a total value of $26,224. Following this sale, Tachibana now holds 167,098 shares of Personalis. The shares were automatically sold to cover tax obligations related to the settlement of vested restricted stock units.The $251.86 million market cap company has shown remarkable momentum, delivering a 168.53% return over the past year. According to InvestingPro analysis, the stock appears undervalued despite its strong liquidity position, with a current ratio of 4.68. InvestingPro subscribers have access to 10 additional key insights about PSNL, including detailed valuation metrics and growth indicators.
In other recent news, Personalis Inc (NASDAQ:PSNL). has reported an impressive 41% increase in year-over-year revenue for the third quarter of 2024, amounting to $25.7 million. This robust growth is largely attributed to a 96% surge in biopharma sector revenue, driven by strong demand for their tumor profiling products and the NeXT Personal MRD assay. The company has also raised its full-year revenue guidance to between $83 million and $84 million, indicating confidence in its strategic growth and the efficacy of its MRD testing solutions.
Personalis ended the quarter with a substantial cash balance of $143.7 million, which is projected to fund operations into the first half of 2027. Despite some projected revenue decreases from Moderna (NASDAQ:MRNA) and Natera (NASDAQ:NTRA), the company's gross margin improved to 34% in Q3, up from 19.1% year-over-year. Personalis has also secured a new $7.5 million task order from the VA MVP, further enhancing its financial standing.
On the analysts' front, the company's strong market adoption, with 98% of physicians reordering tests in Q4, has been highlighted. Additionally, Personalis' involvement in significant MRD studies and collaborations, including presentations at the 2024 ESMO Conference, underscores its commitment to advancing in the genomics field. These are some of the recent developments shaping the trajectory of Personalis Inc.
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