Pacific Biosciences of California (NASDAQ:PACB) Insider Christian Henry Sells 331,793 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Christian Henry sold 331,793 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $1.58, for a total value of $524,232.94. Following the completion of the transaction, the insider owned 2,814,374 shares of the company’s stock, valued at approximately $4,446,710.92. This represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB traded down $0.07 during midday trading on Friday, reaching $1.62. 1,310,389 shares of the company’s stock traded hands, compared to its average volume of 8,022,766. The company has a debt-to-equity ratio of 17.88, a quick ratio of 5.40 and a current ratio of 6.24. The company has a fifty day simple moving average of $2.02 and a two-hundred day simple moving average of $1.77. The company has a market cap of $487.58 million, a P/E ratio of -0.88 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.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.07. The business 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 net margin of 341.47% and a negative return on equity of 251.75%. Equities analysts predict that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

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

Pacific Biosciences of California News Summary

Here are the key news stories impacting Pacific Biosciences of California this week:

• Positive Sentiment: Beat on EPS and roughly in-line revenue: PacBio reported better-than-expected adjusted EPS for the February quarter (EPS -$0.12 vs. consensus -$0.19) with revenue near estimates, which supports the stock’s near-term momentum. Quarterly results summary
• Positive Sentiment: Management visibility at TD Cowen conference: PacBio will present at the TD Cowen Health Care Conference on March 2 (fireside chat). Investor access to management can be positive if they deliver clear guidance or commercial updates. PacBio to Participate in the TD Cowen Conference
• Negative Sentiment: Material insider selling disclosed this week: Multiple senior insiders (Christian O. Henry, Oene Mark Van and Michele Farmer) sold large blocks across Feb. 17–18 — roughly 707,700 shares total for about $1.13M combined at average prices near $1.58–$1.63—reducing individual holdings by single- to low-double-digit percentages. Insider sales of this scale can weigh on sentiment even if the sales are for personal/liquidity reasons. SEC filings: Christian O. Henry SEC filing – Henry, Oene Mark Van SEC filing – Van, Michele Farmer SEC filing – Farmer

Hedge Funds Weigh In On Pacific Biosciences of California

Several hedge funds have recently added to or reduced their stakes in PACB. Koss Olinger Consulting LLC boosted its holdings in shares of Pacific Biosciences of California by 10.0% in the 2nd quarter. Koss Olinger Consulting LLC now owns 3,300,000 shares of the biotechnology company’s stock valued at $4,092,000 after buying an additional 300,000 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Pacific Biosciences of California by 148.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 789,271 shares of the biotechnology company’s stock valued at $979,000 after acquiring an additional 471,101 shares in the last quarter. Carret Asset Management LLC purchased a new position in shares of Pacific Biosciences of California during the second quarter worth about $391,000. Vestmark Advisory Solutions Inc. increased its position in shares of Pacific Biosciences of California by 89.9% during the second quarter. Vestmark Advisory Solutions Inc. now owns 1,294,186 shares of the biotechnology company’s stock worth $1,605,000 after purchasing an additional 612,760 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Pacific Biosciences of California by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company’s stock valued at $8,333,000 after purchasing an additional 401,637 shares during the last quarter.

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.