Pacific Biosciences of California (NASDAQ:PACB) Trading Down 5.3% – Time to Sell?

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) fell 5.3% during mid-day trading on Thursday . The company traded as low as $2.32 and last traded at $2.2450. 1,553,764 shares were traded during mid-day trading, a decline of 83% from the average session volume of 9,242,556 shares. The stock had previously closed at $2.37.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Wednesday, October 8th. Piper Sandler upped their target price on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Finally, Stephens raised their price target on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and an average target price of $2.00.

Pacific Biosciences of California Stock Performance

The stock has a market cap of $640.04 million, a price-to-earnings ratio of -0.96 and a beta of 2.32. The company’s 50 day simple moving average is $1.97 and its 200 day simple moving average is $1.54. The company has a debt-to-equity ratio of 17.88, a quick ratio of 5.40 and a current ratio of 6.24.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. The company had revenue of $3.34 million during the quarter. On average, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nuveen LLC purchased a new stake in Pacific Biosciences of California in the 1st quarter worth about $319,000. Invesco Ltd. increased its holdings in shares of Pacific Biosciences of California by 100.6% in the 1st quarter. Invesco Ltd. now owns 524,643 shares of the biotechnology company’s stock valued at $619,000 after purchasing an additional 263,067 shares during the period. Geode Capital Management LLC lifted its position in shares of Pacific Biosciences of California by 6.4% in the second quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company’s stock worth $8,333,000 after purchasing an additional 401,637 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Pacific Biosciences of California by 95.5% during the second quarter. XTX Topco Ltd now owns 954,596 shares of the biotechnology company’s stock worth $1,184,000 after purchasing an additional 466,359 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its position in Pacific Biosciences of California by 2.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 21,855,180 shares of the biotechnology company’s stock valued at $25,789,000 after purchasing an additional 508,700 shares in the last quarter.

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.