Personalis, Inc.
- Open
- 16.03
- Day high
- 16.36
- Day low
- 15.41
- Prev close
- 15.58
- Volume
- 3.8M
- Mkt cap
- $1.6B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.4
- P/S
- 25.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$5.4M over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
Personalis, Inc. (PSNL) is a Healthcare company listed on NASDAQ. The stock is up 140% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4).
Personalis, Inc. (PSNL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PSNL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.23 | $-0.29 | -26.1% | $15M | +6.8% |
| Nov 4, 2025 | $-0.28 | $-0.24 | +14.3% | $14M | -14.9% |
| Feb 27, 2025 | $-0.32 | $-0.23 | +28.1% | $17M | +8.6% |
| Feb 28, 2024 | $-0.53 | $-0.46 | +13.2% | $20M | -0.3% |
| May 3, 2023 | $-0.62 | $-0.61 | +1.6% | $19M | +8.7% |
| Feb 23, 2023 | $-0.65 | $-0.67 | -3.1% | $17M | +0.0% |
| Nov 2, 2022 | $-0.63 | $-0.58 | +7.9% | $15M | +6.2% |
| Aug 3, 2022 | $-0.63 | $-0.60 | +4.8% | $18M | +17.6% |
| May 4, 2022 | $-0.57 | $-0.63 | -10.5% | $15M | +6.2% |
| Feb 24, 2022 | $-0.51 | $-0.45 | +11.8% | $21M | +0.8% |
| Nov 4, 2021 | $-0.40 | $-0.40 | +0.0% | $22M | +0.7% |
| Aug 4, 2021 | $-0.39 | $-0.34 | +12.8% | $22M | +0.0% |
PSNL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 9, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Sell | 100,000 | $15.08 |
| Jul 9, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Option | 66,667 | $1.61 |
| Jul 9, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Option | 33,333 | $1.61 |
| Jul 9, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Option | 100,000 | $1.61 |
| Jun 29, 2026 | Tachibana Aaronofficer: CFO AND COO | Option | 4,982 | $5.32 |
| Jun 29, 2026 | Tachibana Aaronofficer: CFO AND COO | Sell | 4,982 | $14.00 |
| Jun 26, 2026 | Tachibana Aaronofficer: CFO AND COO | Sell | 51,251 | $13.18 |
| Jun 26, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Option | 100,000 | $1.61 |
| Jun 26, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Sell | 100,000 | $13.15 |
| Jun 26, 2026 | Tachibana Aaronofficer: CFO AND COO | Option | 22,419 | $5.32 |
| Jun 26, 2026 | Tachibana Aaronofficer: CFO AND COO | Option | 28,832 | $9.16 |
| Jun 11, 2026 | EASTHAM KARINdirector | Grant | 6,250 | — |
| Jun 5, 2026 | Tachibana Aaronofficer: CFO AND COO | Sell | 40,000 | $12.01 |
| Jun 5, 2026 | Tachibana Aaronofficer: CFO AND COO | Option | 40,000 | $9.16 |
| May 29, 2026 | Hall Christopher Mdirector, officer: Chief Executive Officer | Option | 80,091 | $1.61 |
Source: PSNL SEC Form 4 filings, latest Jul 9, 2026. For informational purposes only — not investment advice.
See the full PSNL insider & 13F page →Personalis, Inc. company profile
Overview
Personalis, Inc. (NASDAQ:PSNL) is a cancer genomics company founded in 2011 and headquartered in Menlo Park, California. The company went public in June 2019 and specializes in providing advanced genomic sequencing and data analysis services to support cancer therapy development and large-scale genetic research programs. Personalis has evolved from a broad genomics services provider to focus primarily on minimal residual disease (MRD) testing, a rapidly growing field in cancer diagnostics that helps detect microscopic amounts of cancer remaining after treatment.
Business
Personalis operates in the cancer genomics and molecular diagnostics industry, providing sophisticated DNA sequencing and analysis services primarily focused on oncology applications. The company's core business revolves around detecting and analyzing cancer-related genetic material from tissue and blood samples. The company's flagship offering is the NeXT Platform, which provides comprehensive genomic analysis of tumors and their immune microenvironments from limited tissue or plasma samples. This platform includes several specialized products: ImmunoID Next for tumor profiling from tissue samples, NeXT Liquid Biopsy for analyzing circulating tumor DNA in blood, and NeXT Personal, an ultra-sensitive liquid biopsy test for minimal residual disease (MRD) detection. MRD testing represents the detection of microscopic amounts of cancer cells that remain in a patient's body after treatment, often before they can be detected by traditional imaging methods. Personalis's NeXT Personal test can detect cancer at extraordinarily low levels - as little as one cancer DNA fragment per million normal DNA fragments in blood samples. This ultra-sensitivity allows doctors to identify cancer recurrence weeks or months earlier than conventional methods. The company also offers the ACE platform for clinical and therapeutic applications, including neoantigen prediction (identifying unique cancer proteins that can be targeted by immunotherapy), biomarker identification, and novel drug target selection. Additionally, Personalis provides NeXT Dx Test, a genomic cancer profiling test that enables composite biomarkers for cancer treatment decisions. Revenue is generated through three primary segments: 1) Biopharma services (approximately 40-50% of revenue) providing genomic analysis for pharmaceutical companies developing cancer therapies, 2) Clinical testing services (growing segment) offering MRD testing directly to healthcare providers, and 3) Enterprise sequencing solutions including government contracts like the VA Million Veteran Program.
Revenue model
Personalis generates revenue through multiple business models across its different service offerings. The biopharma segment operates on a fee-for-service model, where pharmaceutical companies pay for genomic sequencing and analysis services to support their clinical trials and drug development programs. This includes long-term partnerships like the one with Moderna for personalized cancer vaccine development, where Personalis provides neoantigen identification services. The clinical testing business follows a traditional diagnostic testing model, where healthcare providers order tests for their patients and Personalis charges per test performed. The company is currently building this revenue stream through its NeXT Personal MRD test, with test volumes growing 30-40% quarterly. However, this segment faces near-term margin pressure as most tests are not yet reimbursed by insurance, meaning Personalis often provides tests at reduced rates or absorbs costs while building clinical evidence for reimbursement approval. The enterprise segment includes large-scale sequencing contracts with government entities and research institutions, typically structured as multi-year service agreements with predictable revenue streams. Several factors significantly impact the company's margins and profitability. Positive margin drivers include achieving Medicare reimbursement for clinical tests (targeting $3,000-4,000 per test), scaling test volumes to improve operational efficiency, and expanding higher-margin biopharma partnerships. The company expects gross margins above 60% once reimbursement is secured for MRD testing. Negative margin pressures come from the current lack of insurance reimbursement for most clinical tests, which creates a 17-18% headwind to gross margins as the company subsidizes test costs to build market adoption. Competition from established diagnostic companies like Guardant Health and Natera in the liquid biopsy space could pressure pricing. Additionally, the company's dependence on a limited number of large biopharma customers creates revenue concentration risk, as seen with fluctuations in Moderna partnership revenue based on clinical trial timing.
Competitive moat
Personalis possesses a moderate competitive moat primarily built around its technical capabilities and intellectual property, though this moat faces significant challenges in an increasingly competitive market. The company's strongest defensive position lies in its ultra-sensitive MRD detection technology, which can identify cancer DNA fragments at concentrations as low as one part per million - a level of sensitivity that exceeds many competitors' capabilities. The company has built valuable intellectual property through patent cross-licensing agreements with established players like Myriad Genetics, and has settled litigation disputes that previously created uncertainty around its freedom to operate. Its comprehensive tumor profiling approach, which analyzes both the tumor and immune microenvironment from single samples, provides some differentiation in the biopharma services market. However, Personalis faces substantial competitive threats that limit the strength of its moat. In the MRD testing space, the company competes against well-funded, established diagnostic companies including Guardant Health, Natera, and Exact Sciences, all of which have significantly larger commercial operations, established reimbursement relationships, and broader market presence. These competitors also possess substantial intellectual property portfolios and have demonstrated ability to achieve Medicare coverage for their tests. The biopharma services market, while growing, is becoming increasingly commoditized as sequencing costs decline and more providers enter the space. Personalis's partnership-dependent business model creates vulnerability, as evidenced by revenue fluctuations tied to specific customer program timing. The company's current focus on achieving Medicare reimbursement for its MRD tests represents both an opportunity to strengthen its competitive position and a significant risk. Success in obtaining favorable reimbursement could provide a substantial moat through established payer relationships and clinical validation. However, failure to achieve reimbursement, or achieving it at lower rates than expected, could severely undermine the company's competitive position in the clinical diagnostics market.
Risks & safety
Personalis presents a moderate margin of safety profile with mixed risk factors across financial stability and valuation metrics. **Cash Position and Solvency:** - Strong liquidity with $71 million in cash and short-term investments as of Q1 2025 - Current ratio of 6.9x indicates excellent short-term liquidity - Annual cash burn of approximately $75 million provides roughly 1 year of runway at current spending levels - No significant debt burden with debt-to-equity ratio of 0.21x - Recent capital raises of $115 million in 2024 extended operational runway **Valuation Metrics:** - Trading at negative P/E ratios due to ongoing losses, limiting traditional valuation analysis - Price-to-book ratio of 1.48x appears reasonable given asset base - Graham net-net ratio of 1.49x suggests potential asset-based value - Enterprise value reflects significant discount to revenue given growth trajectory **Risk Considerations:** - High cash burn rate creates time pressure for achieving profitability or additional funding - Revenue concentration risk with dependence on limited number of large customers - Regulatory risk around Medicare reimbursement approval critical for clinical business viability - Competitive pressure in crowded liquid biopsy market may limit pricing power
Recent development
Over the past few years, Personalis has undergone a significant strategic transformation, pivoting from a broad genomics services provider to focus primarily on the minimal residual disease (MRD) testing market. This "Win-in-MRD" strategy began taking shape in 2022-2023, when the company reduced its workforce by 30% and closed its China facility to concentrate resources on high-impact cancer indications. The company launched its flagship NeXT Personal ultra-sensitive MRD test in October 2023, targeting three key cancer areas: breast cancer, lung cancer, and immunotherapy monitoring. Test volumes have grown dramatically, from initial launch to 2,184 molecular tests delivered in Q1 2025, representing a 650% increase compared to the same period in 2024. The company has achieved a 98% physician retention rate and is approaching 300 doctors using the test. A critical strategic partnership was formed with Tempus for commercial distribution of the MRD test, allowing Personalis to leverage Tempus's established sales force and market presence rather than building extensive internal commercial capabilities. This partnership-centric approach extends to the company's biopharma business, where it has maintained and expanded its long-term relationship with Moderna for personalized cancer vaccine development. The company has made significant progress in building clinical evidence for reimbursement, presenting promising data at major medical conferences including AACR. Notable clinical results include the VICTORI study in colorectal cancer, which demonstrated 100% recurrence detection before imaging and 87% of cancer relapses detected within 2-8 weeks post-surgery. Management has submitted Medicare reimbursement applications for breast cancer and is preparing submissions for lung cancer and immunotherapy monitoring, targeting approval for at least two indications in 2025. Financial positioning has been strengthened through approximately $115 million in strategic investments raised in 2024, extending the company's operational runway while pursuing reimbursement approval and commercial scale.
PSNL company profile · for informational purposes only — not investment advice.
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