Personalis因Craig-Hallum下调评级及竞购溢价降温盘中下跌

Personalis Inc. (PSNL) dropped 6% amid a downgrade at Craig-Hallum to hold from buy as the cancer test maker is unlikely to see a higher bid than its announced sale to Tempus AI (TEM). Tempus shares fell 7.2%.
Last month, Tempus AI (TEM) agreed to buy Personalis for $16.25 a share in primarily an all-stock deal, with Tempus having the option to pay up to 50% in cash. Shares of Personalis (PSNL) traded through the deal price, jumping 23% last week mainly after Moderna (MRNA) revealed that a messenger-RNA-based cancer vaccine it's advancing with Merck (MRK) succeeded in a late-stage trial for patients with melanoma.
"We view a competing bid as unlikely," Craig-Hallum analyst Bill Bonello wrote in a note on Monday. "Tempus is the key commercial partner responsible for selling PSNL's NeXT Personal MRD Test. While the Moderna announcement is exciting, the opportunity is likely much smaller than the MRD opportunity. It just doesn't seem probable that Moderna would have to a motive to outbid Tempus — especialy given that Merck, Moderna's partner on the INT productm owns ~13% of PSNL shares and has agreed to vote in stares in favor of the deal with Tempus."
A StreetInsider report last month indicated that Personalis (PSNL) was exploring a potential sale after receiving takeover interest from Merck (MRK) and two other bidders. Merck (MRK), which owns more than 13% of the company, is a key customer for Personalis, accounting for 19% of revenue and 33% of accounts receivable in Q1 2026.