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 Pacific Biosciences of California stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $1.77 on Thursday. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $484.73 million, a P/E ratio of -1.08 and a beta of 1.92. The firm has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $1.79. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $6.09.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. 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 business earned ($0.27) earnings per share. As a group, research analysts expect that Pacific Biosciences of California, Inc. will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pacific Biosciences of California

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after acquiring an additional 353,092 shares during the last quarter. State Street Corp lifted its holdings in Pacific Biosciences of California by 5.7% in the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after purchasing an additional 340,766 shares in the last quarter. Soros Fund Management LLC grew its holdings in shares of Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after buying an additional 400,000 shares in the last quarter. Barclays PLC raised its position in shares of Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after buying an additional 350,196 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in shares of Pacific Biosciences of California by 36.1% during the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock valued at $1,860,000 after buying an additional 290,000 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their price objective 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. Scotiabank dropped their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Monday, November 11th. Stephens restated an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, The Goldman Sachs Group reduced 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 report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average target price of $2.83.

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.