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Personalis (PSNL) Stock Jumps 7.9%: Will It Continue to Soar?

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Personalis (PSNL - Free Report) shares ended the last trading session 7.9% higher at $24.61. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 26.3% loss over the past four weeks.

PSNL extended its rally for the third straight day, driven by optimism over its collaboration with MapKure, LLC, which is jointly owned by BeiGene, Ltd. and SpringWorks Therapeutics, Inc. Per the latest deal, the companies will collaborate to use a clinical trial assay based on the Personalis' NeXT Platform to support development of an investigational next-generation B-RAF inhibitor, BGB-3245, for patients with advanced or refractory solid tumors.

Price and Consensus

Price Consensus Chart for PSNL

This provider of contract research and genomic information is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of -27.6%. Revenues are expected to be $20.4 million, up 6.5% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Personalis, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PSNL going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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