Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Michele Farmer Sells 24,349 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction that occurred 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 owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Pacific Biosciences of California Stock Down 6.1 %

PACB stock opened at $1.54 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm has a market cap of $421.75 million, a PE ratio of -0.94 and a beta of 1.92. Pacific Biosciences of California, Inc. has a 12 month low of $1.16 and a 12 month high of $6.09. The firm has a 50 day simple moving average of $1.76 and a 200 day simple moving average of $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The company had revenue of $39.22 million during the quarter, compared to the consensus estimate 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 firm earned ($0.27) EPS. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on PACB shares. Stephens reaffirmed an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. The Goldman Sachs Group cut their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. Piper Sandler reissued a “neutral” rating and set a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday. Finally, UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $2.79.

Hedge Funds Weigh In On Pacific Biosciences of California

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

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.