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 Pacific Biosciences of California stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the transaction, the insider now directly owns 187,592 shares in the company, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB traded down $0.10 during trading hours on Wednesday, reaching $1.77. The stock had a trading volume of 16,939,218 shares, compared to its average volume of 12,854,882. The stock has a market cap of $484.73 million, a P/E ratio of -1.08 and a beta of 1.92. The stock has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $1.79. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $6.09.

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

Institutional Trading of Pacific Biosciences of California

Several hedge funds and other institutional investors have recently modified their holdings of the business. PCA Investment Advisory Services Inc. grew its stake in Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares in the last quarter. Creative Planning boosted its holdings in shares of Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 7,629 shares during the period. Hsbc Holdings PLC grew its position in shares of Pacific Biosciences of California by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 8,106 shares in the last quarter. Atria Investments Inc raised its stake in shares of 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 purchasing an additional 10,138 shares during the period. Finally, Impact Partnership Wealth LLC lifted its holdings in Pacific Biosciences of California by 29.5% during the 4th quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after purchasing an additional 11,566 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PACB. Stephens reaffirmed an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday, February 14th. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a report on Monday, November 11th. Scotiabank reduced their price objective on shares of 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. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. Finally, Piper Sandler upped their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.83.

About Pacific Biosciences of California

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.