Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells $45,776.12 in Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.77 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $6.09. The company has a market capitalization of $484.73 million, a price-to-earnings ratio of -1.08 and a beta of 1.92. The business has a 50-day moving average of $1.78 and a 200-day moving average of $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The firm had revenue of $39.22 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned ($0.27) EPS. On average, equities analysts anticipate that Pacific Biosciences of California, Inc. will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of large investors have recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. grew its stake in Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California during the 3rd quarter valued at approximately $30,000. Atria Investments Inc grew its position in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Pacific Biosciences of California in the third quarter worth $40,000. Finally, First Trust Advisors LP acquired a new stake in Pacific Biosciences of California in the fourth quarter valued at $42,000.

Analyst Ratings Changes

Several research firms recently issued reports on PACB. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. Piper Sandler lifted their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Friday, February 14th. The Goldman Sachs Group cut their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Scotiabank lowered their price target on 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.