Pacific Biosciences of California (NASDAQ:PACB) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Pacific Biosciences of California, Inc. (NASDAQ:PACB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.26 and traded as high as $1.53. Pacific Biosciences of California shares last traded at $1.40, with a volume of 5,824,004 shares.

Analyst Ratings Changes

Several analysts recently commented on PACB shares. Wall Street Zen raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler lifted their price target on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a “neutral” rating in a research note on Monday, August 11th. Barclays dropped their price objective on Pacific Biosciences of California from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Wednesday, June 25th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and an average target price of $1.90.

Pacific Biosciences of California Trading Down 7.9%

The stock has a market cap of $420.52 million, a PE ratio of -0.61 and a beta of 2.10. The company’s fifty day moving average is $1.30 and its 200-day moving average is $1.26. The company has a debt-to-equity ratio of 10.51, a current ratio of 6.92 and a quick ratio of 6.02.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. The firm had revenue of $39.77 million for the quarter, compared to analyst estimates of $36.35 million. On average, analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jump Financial LLC acquired a new position in Pacific Biosciences of California during the first quarter valued at approximately $25,000. Cim Investment Management Inc. boosted its position in Pacific Biosciences of California by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 12,822 shares during the last quarter. Hartline Investment Corp acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at approximately $37,000. Wealth Enhancement Advisory Services LLC increased its position in Pacific Biosciences of California by 47.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after buying an additional 9,739 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth $43,000.

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.