Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) shares fell 5.3% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $5.73 and last traded at $5.77. 38,218 shares were traded during trading, a decline of 99% from the average session volume of 5,935,415 shares. The stock had previously closed at $6.09.
Specifically, insider Christian O. Henry sold 91,307 shares of the business's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $5.78, for a total value of $527,754.46. Following the transaction, the insider now owns 688,551 shares in the company, valued at $3,979,824.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company's stock.
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Analyst Ratings Changes
Several analysts have recently issued reports on the company. Canaccord Genuity Group decreased their price target on Pacific Biosciences of California from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, August 5th. Piper Sandler decreased their price target on Pacific Biosciences of California from $7.50 to $6.00 in a research note on Sunday, August 21st. Finally, Cowen decreased their price target on Pacific Biosciences of California to $8.00 in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.
Pacific Biosciences of California Stock Down 4.3 %
The company has a current ratio of 11.50, a quick ratio of 11.07 and a debt-to-equity ratio of 1.31. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -6.34 and a beta of 1.33. The firm has a 50-day moving average of $5.85 and a two-hundred day moving average of $6.49.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. During the same period in the previous year, the business posted ($0.21) earnings per share. As a group, sell-side analysts predict that Pacific Biosciences of California, Inc. will post -1.37 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Pacific Biosciences of California
Several large investors have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its holdings in Pacific Biosciences of California by 2.0% in the 1st quarter. Archford Capital Strategies LLC now owns 73,295 shares of the biotechnology company's stock valued at $693,000 after acquiring an additional 1,458 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Pacific Biosciences of California by 94.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company's stock worth $33,000 after buying an additional 1,767 shares in the last quarter. Aigen Investment Management LP raised its holdings in shares of Pacific Biosciences of California by 20.4% in the 1st quarter. Aigen Investment Management LP now owns 12,218 shares of the biotechnology company's stock worth $111,000 after buying an additional 2,073 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Pacific Biosciences of California by 15.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,101 shares of the biotechnology company's stock worth $75,000 after buying an additional 2,347 shares in the last quarter. Finally, Pictet & Cie Europe SA raised its holdings in shares of Pacific Biosciences of California by 9.8% in the 1st quarter. Pictet & Cie Europe SA now owns 26,789 shares of the biotechnology company's stock worth $244,000 after buying an additional 2,396 shares in the last quarter.
About Pacific Biosciences of California
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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.
Further Reading
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