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 company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the transaction, the insider now directly owns 187,592 shares in the company, valued at $352,672.96. This represents a 11.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pacific Biosciences of California Trading Down 6.1 %

PACB opened at $1.54 on Friday. The stock has a market capitalization of $421.75 million, a PE ratio of -0.94 and a beta of 1.92. The firm’s fifty day moving average price is $1.76 and its 200 day moving average price is $1.79. 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 12-month low of $1.16 and a 12-month high of $6.09.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The business had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. During the same period in the prior year, the company posted ($0.27) EPS. As a group, research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in Pacific Biosciences of California in the fourth quarter worth about $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Pacific Biosciences of California by 7.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock worth $1,010,000 after purchasing an additional 38,103 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Pacific Biosciences of California by 19.8% in the 4th quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock worth $307,000 after purchasing an additional 27,800 shares during the last quarter. Two Sigma Investments LP boosted its position in Pacific Biosciences of California by 139.4% during the 4th quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company’s stock valued at $2,038,000 after purchasing an additional 648,407 shares during the period. Finally, Softbank Group CORP. bought a new position in Pacific Biosciences of California during the 4th quarter worth $37,426,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday. Scotiabank dropped their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group decreased their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. One equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.79.

Pacific Biosciences of California Company Profile

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.