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NEW YORK – Personalis reported after the close of the market on Thursday that its third quarter revenues rose 16 percent year over year, driven largely by a 9 percent increase in revenues from the analytical services it provided to the US Department of Veterans Affairs Million Veteran Program (VA MVP).

On Friday, Oppenheimer downgraded the company's shares to a rating of Perform from Outperform, citing valuation, an expectation for headwinds from the COVID-19 pandemic on Personalis' pharma business, and a slowdown in growth from VA revenues.

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