Oene Mark Van Sells 129,790 Shares of Pacific Biosciences of California (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 129,790 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $1.58, for a total transaction of $205,068.20. Following the sale, the insider directly owned 1,797,745 shares in the company, valued at $2,840,437.10. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Oene Mark Van also recently made the following trade(s):

• On Wednesday, February 18th, Oene Mark Van sold 55,107 shares of Pacific Biosciences of California stock. The shares were sold at an average price of $1.63, for a total transaction of $89,824.41.

Pacific Biosciences of California Price Performance

Shares of PACB traded up $0.05 during mid-day trading on Thursday, reaching $1.68. 4,308,048 shares of the stock traded hands, compared to its average volume of 7,583,859. The company has a market cap of $507.21 million, a price-to-earnings ratio of -0.91 and a beta of 2.27. Pacific Biosciences of California, Inc. has a 1 year low of $0.85 and a 1 year high of $2.73. The firm has a fifty day moving average price of $2.02 and a 200 day moving average price of $1.77. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. The company had revenue of $44.65 million for the quarter, compared to the consensus estimate of $44.60 million. Pacific Biosciences of California had a negative return on equity of 251.75% and a negative net margin of 341.47%. As a group, equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PACB. ProShare Advisors LLC boosted its stake in shares of Pacific Biosciences of California by 10.2% in the 4th 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 in the last quarter. Intech Investment Management LLC lifted its stake in Pacific Biosciences of California by 5.2% in the third quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 6,564 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Pacific Biosciences of California by 47.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,663 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 6,695 shares during the last quarter. Rhumbline Advisers boosted its position in Pacific Biosciences of California by 2.1% during the third quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock valued at $532,000 after buying an additional 8,532 shares during the period. Finally, Green Alpha Advisors LLC grew its stake in shares of Pacific Biosciences of California by 5.4% during 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

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Thursday, January 22nd. Piper Sandler lifted their target price on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Barclays boosted their price target on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Finally, Stephens raised their price objective on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California presently has an average rating of “Hold” and a consensus target price of $2.20.

About Pacific Biosciences of California

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.