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Wire

Personalis Acquisition Price Warranted by Growth Prospects, Needham Says

Personalis' (PSNL) agreed acquisition price from Tempus AI (TEM) is supported by strong growth in its NeXT Personal platform, Medicare reimbursement wins and a large minimal residual disease market opportunity, Needham said in a Monday note.The brokerage said Tempus agreed to acquire Personalis for $16.25 per share in stock, valuing the company at about $1.5 billion, with Tempus paying about 15.5 times Personalis' estimated 2027 enterprise value-to-sales multiple. Needham said the valuation is well above that of its small- and mid-cap growth peers but is warranted given the company's growth outlook.Needham also said competing bids and antitrust concerns are unlikely, citing reports that multiple bidders pursued Personalis and the companies' limited share of the minimal residual disease market.The transaction is expected to close in late 2026 or early 2027.Needham downgraded Personalis to hold from buy and withdrew its $17 price target.Shares of Personalis were down 14% in Monday trading.Price: $13.24, Change: $-2.15, Percent Change: -13.97%

$PSNL$TEM
Sectors

Sector Update: Healthcare Stocks Fall Late Afternoon

Healthcare stocks declined late Monday afternoon, with the NYSE Healthcare Index shedding 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.8%.The iShares Biotechnology ETF (IBB) fell 1.1%.In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 2.2%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 7.3%, and Personalis dropped 14%.Nuvation Bio (NUVB) shares jumped past 8% after it said Monday that follow-up data from a phase 2 trial of safusidenib in people with chemotherapy and radiotherapy-naive grade 2 IDH1-mutant glioma showed "durable" efficacy, with objective response rate of 51.9% and 36-month progression-free survival rate of 79.1%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were shedding 0.9%.

$BMY$LLY$NUVB$PSNL$TEM
Wire

Top Midday Decliners

QumulusAI (QMLS) reported Monday the purchase of 1,632 Nvidia (NVDA) Blackwell B300 GPUs to meet demand for AI compute, with funding mainly through Technology Finance Corporation and USD.ai.Shares of QumulusAI fell 33%, with intraday trading volume of over 316,000 versus a daily average of about 187,000.Barclays downgraded Penguin Solutions (PENG) to underweight from equal weight, with a price target of $40.Late Friday, Penguin said it has closed its offering of $750.0 million of 0.00% convertible senior notes due 2031.Shares fell 11% as intraday trading volume jumped to over 4.2 million from a daily average of about 3.8 million.Tempus AI (TEM) agreed to acquire Personalis (PSNL) for a total enterprise value of $1.5 billion. Needham downgraded Personalis shares to hold from buy.Shares of Personalis slumped 12% as trading volume climbed up to over 9.5 million from a daily average of about 3.6 million.Price: $9.63, Change: $-4.65, Percent Change: -32.56%

$PENG$PSNL$QMLS$TEM
Sectors

Sector Update: Healthcare Stocks Softer Monday Afternoon

Healthcare stocks declined Monday afternoon, with the NYSE Healthcare Index shedding 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) decreasing 0.6%.The iShares Biotechnology ETF (IBB) fell 0.7%.In corporate news, Eli Lilly (LLY) has indicated an interest in buying shares at Scribe Therapeutics' initial public offering sufficient to raise its stake to as much as 10.9% following the offering and a concurrent private placement, Scribe said in a regulatory filing on Monday. Lilly shares were falling 1.4%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Tempus AI shares fell 6.9%, and Personalis dropped 11%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Bristol-Myers Squibb shares were down 0.4%.

$BMY$LLY$PSNL$TEM
Research

Needham Downgrades Personalis to Hold From Buy

Personalis (PSNL) has an average rating of Buy and mean price target of $12.40, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $13.21, Change: $-2.18, Percent Change: -14.17%

$PSNL
Sectors

Sector Update: Healthcare Stocks Flat to Lower Premarket Monday

Healthcare stocks were flat to lower premarket Monday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2%.Tempus AI (TEM) agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion. Shares of Tempus AI were down more than 4% and Personalis stock fell past 5% pre-bell.Dyne Therapeutics (DYN) stock was up more than 4% after the company said the US Food and Drug Administration accepted its biologics license application for z-rostudirsen to treat Duchenne muscular dystrophy patients amenable to exon 51 skipping.Kamada (KMDA) shares were up more than 4% after the company said it has signed a three-year $50 million agreement to supply plasma to an unnamed biopharmaceutical company focused on plasma-derived therapies.

$DYN$IBB$KMDA$PSNL$TEM$XLV
Sectors

Sector Update: Healthcare

Healthcare stocks were flat to lower premarket Monday, with the iShares Biotechnology ETF (IBB) inactive and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2%.Tempus AI (TEM) shares were down more than 4% after the company agreed to acquire Personalis (PSNL) in a deal with a total enterprise value of $1.5 billion.

$PSNL$TEM
Insider Trading

Personalis Insider Sold Shares Worth $1,508,000, According to a Recent SEC Filing

Christopher M Hall, Director, Chief Executive Officer, on July 09, 2026, sold 100,000 shares in Personalis (PSNL) for $1,508,000. Following the Form 4 filing with the SEC, Hall has control over a total of 235,986 common shares of the company, with 235,986 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1527753/000144953526000006/xslF345X05/form4-07102026_120749.xml

$PSNL
Insider Trading

Personalis Insider Sold Shares Worth $449,292, According to a Recent SEC Filing

Aaron Tachibana, Chief Financial Officer and Chief Operating Officer, on May 29, 2026, sold 38,799 shares in Personalis (PSNL) for $449,292. Following the Form 4 filing with the SEC, Tachibana has control over a total of 198,833 common shares of the company, with 198,833 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1527753/000140178626000004/xslF345X05/form4-05302026_120502.xml

$PSNL
Sectors

Sector Update: Healthcare Stocks Mixed Late Afternoon

Healthcare stocks were mixed late Wednesday afternoon, with the NYSE Healthcare Index up 0.1% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2%.The iShares Biotechnology ETF (IBB) rose 1.9%.In corporate news, Cigna (CI) shares fell 2.5% after Deutsche Bank downgraded the stock to hold from buy and cut its price target to $302 from $303.Medtronic (MDT) said Wednesday it is planning to acquire medical technology firm SPR Therapeutics for an upfront cash payment of about $650 million. Shares were down 0.8%.Personalis (PSNL) shares jumped 12% after the company said its NeXT personal minimal residual disease test has been approved for expanded coverage by the US Centers for Medicare & Medicaid Services' Molecular Diagnostic Services Program.Immunovant (IMVT) shares surged 35% after the firm said its cash and cash equivalents were about $902.1 million as of March 31, providing runway for announced indications through the potential commercial launch of IMVT-1402 in Graves' disease.

$CI$IMVT$MDT$PSNL
Wire

Update: Personalis Shares Rise After NeXT Disease Test Approved for Expanded Coverage by Medicare, Medicaid

(Updates with recent stock movement in the headline and the first paragraph.)Personalis (PSNL) shares rose 9% in Wednesday afternoon trading after the company said its NeXT personal minimal residual disease test has been approved for expanded coverage by the US Centers for Medicare & Medicaid Services' Molecular Diagnostic Services Program.The approval is for monitoring treatment response to neoadjuvant therapy in patients diagnosed with Stage II-III triple-negative breast cancer or HER2-positive breast cancer, it said Wednesday.The coverage decision was backed by clinical evidence from a 227-patient study showing monitoring with NeXT allows accurate tracking of therapy response, outperforming standard clinical metrics, the company said.Price: $7.67, Change: $+0.63, Percent Change: +8.95%

$PSNL
Sectors

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 0.9% and the State Street Healthcare Select Sector SPDR ETF (XLV) increasing 0.7%.The iShares Biotechnology ETF (IBB) rose 0.3%.In corporate news, Corcept Therapeutics (CORT) shares rose past 11% after UBS Securities upgraded the stock to buy from neutral and raised its price target to $72 per share from $44.Ironwood Pharmaceuticals (IRWD) fell 10% after the company said Gregory Martini is resigning from his role as chief financial officer, effective May 15.Personalis (PSNL) shares jumped 6% after the firm said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services has expanded coverage for its NeXT Personal minimal residual disease test.Assertio (ASRT) shares rose 3.4% after the company said Wednesday it has agreed to be acquired by Zydus Lifesciences subsidiary Zydus Worldwide DMCC in an all-cash tender offer valued at about $166.4 million.

$ASRT$CORT$IRWD$PSNL
Sectors

Sector Update: Healthcare Stocks Advance Wednesday Afternoon

Healthcare stocks rose Wednesday afternoon, with the NYSE Healthcare Index adding 0.8% and the State Street Healthcare Select Sector SPDR ETF (XLV) increasing 0.5%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, Personalis (PSNL) shares jumped past 7% after the company said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services expanded coverage for its NeXT Personal minimal residual disease test.Assertio (ASRT) shares rose 3.4% after the company said Wednesday it agreed to be acquired by Zydus Lifesciences subsidiary Zydus Worldwide DMCC in an all-cash tender offer valued at about $166.4 million.UroGen Pharma's (URGN) Zusduri treatment demonstrated a 64.5% 36-month duration of response in a pivotal phase 3 trial in recurrent low-grade intermediate-risk non-muscle invasive bladder cancer, the company said Wednesday. Its shares rose 1.9%.

$ASRT$PSNL$URGN
Wire

Sector Update: Healthcare

Healthcare stocks rose Wednesday afternoon with the NYSE Healthcare Index adding 0.5% and the State Street Healthcare Select Sector SPDR ETF (XLV) gaining 0.4%.The iShares Biotechnology ETF (IBB) shed 0.2%.In corporate news, Personalis (PSNL) shares jumped 7.5% after the company said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services expanded coverage for its NeXT Personal minimal residual disease test.

$PSNL
Sectors

Sector Update: Healthcare Stocks Lean Lower Pre-Bell Wednesday

Healthcare stocks were leaning lower pre-bell Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2% and the iShares Biotechnology ETF (IBB) declining by 0.5%.National Vision Holdings (EYE) stock was down more than 11% after the company reported fiscal Q1 revenue that missed analysts' estimates.Alto Neuroscience (ANRO) shares were down more than 3% after the company posted a wider Q1 net loss.Personalis (PSNL) said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services has expanded coverage for the firm's NeXT Personal minimal residual disease test. Personalis stock was up more than 14% premarket.

$ANRO$EYE$IBB$PSNL$XLV

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