Christian Henry Sells 12,497 Shares of Pacific Biosciences of California (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Christian Henry sold 12,497 shares of Pacific Biosciences of California stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1.51, for a total value of $18,870.47. Following the transaction, the insider directly owned 3,581,813 shares of the company’s stock, valued at approximately $5,408,537.63. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Pacific Biosciences of California Trading Down 2.6%

Shares of PACB stock opened at $1.52 on Friday. The stock has a market cap of $459.04 million, a P/E ratio of -0.83 and a beta of 2.31. The company has a quick ratio of 4.47, a current ratio of 5.15 and a debt-to-equity ratio of 120.65. Pacific Biosciences of California, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.73. The business has a fifty day simple moving average of $1.95 and a 200-day simple moving average of $1.80.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The firm had revenue of $44.65 million for the quarter, compared to analysts’ expectations of $44.60 million. Pacific Biosciences of California had a negative net margin of 341.47% and a negative return on equity of 326.43%. On average, analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its holdings in shares of Pacific Biosciences of California by 10.2% during the fourth quarter. ProShare Advisors LLC now owns 63,799 shares of the biotechnology company’s stock valued at $119,000 after purchasing an additional 5,883 shares during the last quarter. Intech Investment Management LLC boosted its position in Pacific Biosciences of California by 5.2% during the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock valued at $169,000 after purchasing an additional 6,564 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Pacific Biosciences of California by 47.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,663 shares of the biotechnology company’s stock worth $39,000 after buying an additional 6,695 shares during the last quarter. Rhumbline Advisers increased its position in Pacific Biosciences of California by 2.1% in the third quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock worth $532,000 after buying an additional 8,532 shares during the period. Finally, Green Alpha Advisors LLC lifted its stake in Pacific Biosciences of California by 5.4% in the fourth quarter. Green Alpha Advisors LLC now owns 183,466 shares of the biotechnology company’s stock valued at $343,000 after buying an additional 9,441 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PACB shares. Piper Sandler upped their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Stephens boosted their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Thursday, January 22nd. Barclays reiterated an “underweight” rating and set a $1.50 price objective on shares of Pacific Biosciences of California in a research report on Friday. Finally, Zacks Research upgraded shares of Pacific Biosciences of California from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and a consensus target price of $2.10.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.