Stephen Michael Moore, Senior Vice President and Chief Legal Officer at Personalis, Inc. (NASDAQ:PSNL), recently sold 1,693 shares of the company's common stock. The transaction occurred on November 18, with shares sold at prices ranging from $3.76 to $3.79, resulting in a total value of $6,416. Following this sale, Moore holds 67,388 shares in the company. According to the filing, these shares were automatically sold to cover tax withholding obligations from the settlement of vested restricted stock units.
In other recent news, Personalis, Inc. has reported a significant 41% increase in its third quarter revenue for 2024, totaling $25.7 million. This robust growth has been attributed to a 96% surge in the biopharma sector revenue, driven by 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, reflecting confidence in strategic growth. However, the company anticipates a decline in Q4 revenue to between $15 million and $16 million, primarily due to a decrease in revenue from Moderna (NASDAQ:MRNA) and Natera (NASDAQ:NTRA). Despite this, the gross margin improved to 34% in Q3, up from 19.1% year-over-year. Personalis is also involved in significant MRD studies and collaborations, and is optimistic about growth in MRD testing prior to Medicare approvals. These are among the recent developments for Personalis, Inc.
InvestingPro Insights
While Stephen Michael Moore's recent stock sale at Personalis, Inc. (NASDAQ:PSNL) may raise eyebrows, it's crucial to view this transaction within the broader context of the company's financial health and market performance.
According to InvestingPro data, Personalis has shown impressive revenue growth, with a 40.89% increase in quarterly revenue as of Q3 2024. This strong top-line performance is complemented by a substantial year-over-year revenue growth of 24.05%. These figures suggest that despite the insider sale, the company is experiencing robust demand for its products or services.
However, investors should note that Personalis is currently unprofitable, with an operating income margin of -80.11% over the last twelve months. This aligns with an InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. Despite this, another InvestingPro Tip reveals that Personalis holds more cash than debt on its balance sheet, which could provide some financial flexibility as the company works towards profitability.
The stock's performance has been volatile, with a significant 152.74% price return over the past six months, contrasting sharply with a 22.32% decline in the past week. This volatility is reflected in another InvestingPro Tip, which notes that the stock's price movements are quite volatile.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Personalis, providing a deeper understanding of the company's financial position and market dynamics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.