Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) shares saw unusually-strong trading volume on Tuesday . Approximately 333,858 shares traded hands during trading, a decline of 93% from the previous session’s volume of 4,850,399 shares.The stock last traded at $10.18 and had previously closed at $9.54.
A number of research analysts have recently commented on PACB shares. Piper Sandler reduced their target price on shares of Pacific Biosciences of California from $20.00 to $13.00 in a research report on Tuesday, March 1st. Canaccord Genuity Group dropped their price target on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 16th. Canaccord Genuity Group dropped their price target on shares of Pacific Biosciences of California from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 16th. Cantor Fitzgerald restated an “overweight” rating on shares of Pacific Biosciences of California in a research note on Tuesday, January 25th. Finally, StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, March 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and a consensus target price of $35.17.
The company has a quick ratio of 15.01, a current ratio of 15.36 and a debt-to-equity ratio of 1.13. The firm’s 50 day simple moving average is $10.67 and its two-hundred day simple moving average is $18.96. The stock has a market cap of $2.28 billion, a P/E ratio of -11.53 and a beta of 1.33.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last released its earnings results on Tuesday, February 15th. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.02). Pacific Biosciences of California had a negative net margin of 138.85% and a negative return on equity of 35.02%. The business had revenue of $36.02 million for the quarter, compared to the consensus estimate of $36.00 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. As a group, equities analysts predict that Pacific Biosciences of California, Inc. will post -1.3 EPS for the current year.
In other news, COO Oene Mark Van sold 41,480 shares of the company’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $14.23, for a total transaction of $590,260.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathy Ordonez sold 3,280 shares of the company’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $11.50, for a total transaction of $37,720.00. The disclosure for this sale can be found here. Insiders have sold 67,664 shares of company stock valued at $945,255 in the last 90 days. Insiders own 3.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings in Pacific Biosciences of California by 211.1% in the third quarter. Franklin Resources Inc. now owns 40,151 shares of the biotechnology company’s stock worth $1,026,000 after purchasing an additional 27,244 shares during the period. Arizona State Retirement System lifted its holdings in Pacific Biosciences of California by 2.9% in the third quarter. Arizona State Retirement System now owns 51,333 shares of the biotechnology company’s stock worth $1,312,000 after purchasing an additional 1,467 shares during the period. Foundations Investment Advisors LLC acquired a new stake in Pacific Biosciences of California in the fourth quarter worth about $154,000. Profund Advisors LLC lifted its holdings in Pacific Biosciences of California by 564.9% in the third quarter. Profund Advisors LLC now owns 37,961 shares of the biotechnology company’s stock worth $970,000 after purchasing an additional 32,252 shares during the period. Finally, WCM Investment Management LLC lifted its holdings in Pacific Biosciences of California by 11.9% in the fourth quarter. WCM Investment Management LLC now owns 338,246 shares of the biotechnology company’s stock worth $6,921,000 after purchasing an additional 36,012 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.
Pacific Biosciences of California Company Profile (NASDAQ:PACB)
Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio’s Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.
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