Pacific Biosciences of California (NASDAQ:PACB) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 19,803,438 shares, an increase of 23.8% from the February 15th total of 15,999,916 shares. Based on an average daily volume of 2,116,544 shares, the days-to-cover ratio is currently 9.4 days. Approximately 14.5% of the company’s stock are sold short.
NASDAQ:PACB opened at $7.30 on Friday. Pacific Biosciences of California has a 1 year low of $2.02 and a 1 year high of $7.84. The company has a current ratio of 4.90, a quick ratio of 4.23 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.11 billion, a P/E ratio of -9.61 and a beta of 2.41.
Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Monday, February 11th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). Pacific Biosciences of California had a negative net margin of 130.44% and a negative return on equity of 94.50%. The firm had revenue of $19.53 million during the quarter, compared to analyst estimates of $21.08 million. Research analysts forecast that Pacific Biosciences of California will post -0.56 EPS for the current year.
In other news, CEO Michael Hunkapiller sold 13,335 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $7.19, for a total transaction of $95,878.65. Following the transaction, the chief executive officer now owns 2,388,750 shares in the company, valued at approximately $17,175,112.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan K. Barnes sold 11,987 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $7.16, for a total transaction of $85,826.92. Following the transaction, the chief financial officer now owns 729,407 shares in the company, valued at approximately $5,222,554.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,486 shares of company stock worth $283,261. 13.40% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in Pacific Biosciences of California in the 4th quarter valued at $26,000. Hudock Capital Group LLC acquired a new stake in Pacific Biosciences of California in the 4th quarter worth $29,000. Clean Yield Group acquired a new stake in Pacific Biosciences of California in the 4th quarter worth $37,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pacific Biosciences of California by 37.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 2,628 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Pacific Biosciences of California by 21.8% in the 4th quarter. Prudential Financial Inc. now owns 12,402 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 2,220 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.
A number of research firms recently issued reports on PACB. BidaskClub lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine lowered shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 2nd. Finally, Cowen lowered shares of Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a research note on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.64.
About Pacific Biosciences of California
Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.
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