Pacific Biosciences of California (NASDAQ:PACB) Sees Large Volume Increase

Pacific Biosciences of California, Inc. (NASDAQ:PACB) saw an uptick in trading volume on Thursday . 338,052 shares traded hands during mid-day trading, a decline of 90% from the previous session’s volume of 3,283,647 shares.The stock last traded at $13.37 and had previously closed at $14.45.

Separately, started coverage on Pacific Biosciences of California in a research note on Monday, September 27th. They set a “buy” rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $46.40.

The company has a quick ratio of 19.99, a current ratio of 20.32 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $21.60 and its 200-day simple moving average is $26.34.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Tuesday, November 2nd. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.01). The business had revenue of $34.89 million for the quarter, compared to the consensus estimate of $32.93 million. Pacific Biosciences of California had a negative net margin of 30.39% and a negative return on equity of 29.42%. During the same period last year, the firm posted ($0.14) EPS. On average, equities analysts expect that Pacific Biosciences of California, Inc. will post -0.89 EPS for the current fiscal year.

In other Pacific Biosciences of California news, insider Peter Fromen sold 19,720 shares of Pacific Biosciences of California stock in a transaction that occurred on Tuesday, January 11th. The shares were sold at an average price of $14.30, for a total transaction of $281,996.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Oene Mark Van sold 41,480 shares of Pacific Biosciences of California stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $14.23, for a total transaction of $590,260.40. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PACB. Itau Unibanco Holding S.A. purchased a new position in shares of Pacific Biosciences of California during the 2nd quarter valued at $30,000. Harbor Investment Advisory LLC acquired a new position in Pacific Biosciences of California during the 4th quarter worth $38,000. Advisory Services Network LLC acquired a new position in Pacific Biosciences of California during the 2nd quarter worth $52,000. Profund Advisors LLC acquired a new position in Pacific Biosciences of California during the 2nd quarter worth $200,000. Finally, CIBC Asset Management Inc lifted its position in Pacific Biosciences of California by 16.2% during the 3rd quarter. CIBC Asset Management Inc now owns 8,042 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 1,121 shares during the last quarter. Institutional investors and hedge funds own 85.03% of the company’s stock.

About Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc engages in the development, manufacture and sale of an integrated platform for genetic analysis. The firm’s products and services include PacBio sequel system, consumables, analytical software and single molecule real-time (SMRT) compatible products. It operates through the following geographical segments: North America, Europe and Asia Pacific.

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