Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Michele Farmer Sells 5,275 Shares of Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Free Report) insider Michele Farmer sold 5,275 shares of Pacific Biosciences of California stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $2.03, for a total transaction of $10,708.25. Following the transaction, the insider now directly owns 211,941 shares in the company, valued at approximately $430,240.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Michele Farmer also recently made the following trade(s):

  • On Monday, March 4th, Michele Farmer sold 2,968 shares of Pacific Biosciences of California stock. The stock was sold at an average price of $4.87, for a total transaction of $14,454.16.

Pacific Biosciences of California Stock Down 3.7 %

NASDAQ:PACB traded down $0.07 during midday trading on Thursday, hitting $1.78. The company had a trading volume of 1,491,887 shares, compared to its average volume of 10,120,046. Pacific Biosciences of California, Inc. has a 52-week low of $1.25 and a 52-week high of $14.55. The stock’s fifty day moving average price is $2.57 and its 200-day moving average price is $5.67. The company has a quick ratio of 8.36, a current ratio of 9.28 and a debt-to-equity ratio of 1.38.

Pacific Biosciences of California (NASDAQ:PACBGet Free Report) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The company had revenue of $38.81 million during the quarter, compared to analyst estimates of $38.78 million. On average, equities analysts predict that Pacific Biosciences of California, Inc. will post -0.91 EPS for the current fiscal year.

Institutional Trading of Pacific Biosciences of California

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Pacific Biosciences of California during the first quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Pacific Biosciences of California during the first quarter valued at about $38,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Pacific Biosciences of California during the third quarter valued at about $59,000. Kennedy Capital Management LLC bought a new position in Pacific Biosciences of California in the first quarter worth about $64,000. Finally, SG Americas Securities LLC bought a new position in Pacific Biosciences of California in the first quarter worth about $80,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PACB. TD Cowen decreased their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Piper Sandler decreased their price target on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $2.50 in a research note on Thursday, April 18th. UBS Group lowered their target price on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and a consensus price target of $6.59.

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Pacific Biosciences of California Company Profile

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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

See Also

Insider Buying and Selling by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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