Oene Mark Van Sells 41,480 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) COO Oene Mark Van sold 41,480 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Pacific Biosciences of California stock opened at $12.43 on Friday. The company’s fifty day moving average price is $21.60 and its 200 day moving average price is $26.34. Pacific Biosciences of California, Inc. has a 1 year low of $12.04 and a 1 year high of $53.69. The stock has a market capitalization of $2.74 billion, a P/E ratio of -59.19 and a beta of 1.13. The company has a debt-to-equity ratio of 1.07, a quick ratio of 19.99 and a current ratio of 20.32.

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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Pacific Biosciences of California had a negative net margin of 30.39% and a negative return on equity of 29.42%. The company had revenue of $34.89 million during the quarter, compared to analyst estimates of $32.93 million. During the same period in the prior year, the business posted ($0.14) EPS. Sell-side analysts predict that Pacific Biosciences of California, Inc. will post -0.89 EPS for the current year.

Separately, assumed coverage on shares of Pacific Biosciences of California in a research note on Monday, September 27th. They set a “buy” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $46.40.

A number of institutional investors have recently added to or reduced their stakes in PACB. Itau Unibanco Holding S.A. purchased a new position in Pacific Biosciences of California in the 2nd quarter valued at $30,000. Harbor Investment Advisory LLC purchased a new position in Pacific Biosciences of California in the 4th quarter valued at $38,000. Advisory Services Network LLC purchased a new position in Pacific Biosciences of California in the 2nd quarter valued at $52,000. Profund Advisors LLC purchased a new position in Pacific Biosciences of California in the 2nd quarter valued at $200,000. Finally, CIBC Asset Management Inc lifted its holdings in Pacific Biosciences of California by 16.2% in the 3rd quarter. CIBC Asset Management Inc now owns 8,042 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 1,121 shares in the last quarter. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Pacific Biosciences of California

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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Insider Buying and Selling by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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