Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Michele Farmer Sells 24,349 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now directly owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This represents a 11.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Pacific Biosciences of California Trading Down 5.3 %

Shares of PACB traded down $0.10 during mid-day trading on Wednesday, reaching $1.77. The company’s stock had a trading volume of 16,939,218 shares, compared to its average volume of 12,854,882. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $6.09. The stock has a market cap of $484.73 million, a PE ratio of -1.08 and a beta of 1.92. The company’s fifty day moving average price is $1.79 and its two-hundred day moving average price is $1.79. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The business had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. On average, analysts predict that Pacific Biosciences of California, Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pacific Biosciences of California

Several institutional investors have recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. lifted its position in Pacific Biosciences of California by 50.0% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Atom Investors LP bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at $30,000. Atria Investments Inc boosted its position in Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares during the period. First Trust Advisors LP purchased a new stake in Pacific Biosciences of California during the 4th quarter valued at $42,000. Finally, Centiva Capital LP bought a new stake in Pacific Biosciences of California in the 3rd quarter worth $40,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PACB shares. Piper Sandler boosted their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. Scotiabank reduced their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. Stephens reaffirmed an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. The Goldman Sachs Group cut their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Pacific Biosciences of California has an average rating of “Hold” and a consensus price target of $2.83.

Pacific Biosciences of California Company Profile

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.