Pacific Biosciences of California (NASDAQ:PACB) down 5.3% after insider selling – MarketBeat | Jewelry Dukan

Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) shares fell 5.3% during Tuesday trading after an insider sold shares of the company. The stock has traded as low as $5.73 and last traded at $5.77. During midday trading, 38,218 shares were traded, down 99% from the average session volume of 5,935,415 shares. The stock had previously closed at $6.09. Specifically, insider Christian O. Henry sold 91,307 shares of the stock in a transaction that took place on Thursday, September 15th. The stock sold at an average price of $5.78 for a total value of $527,754.46. Following the transaction, the insider now owns 688,551 shares of the company’s stock valued at $3,979,824.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. 1.40% of the shares are owned by company insiders.

Wall Street analyst ponders

A number of research companies have recently commented on PACB. The Canaccord Genuity Group lowered its target price on shares of Pacific Biosciences of California from $17.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 5. Cowen lowered his target price on shares of Pacific Biosciences of California to $8.00 in a report on Tuesday, August 9. Finally, Piper Sandler lowered her target price on Pacific Biosciences of California from $7.50 to $6.00 in a research note on Sunday, August 21. One investment analyst has assigned a sell rating to the stock, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Price history of Pacific Biosciences of California

The company has a 50-day moving average price of $5.84 and a 200-day moving average price of $6.50. The company has a quick ratio of 11.07, a current ratio of 11.50 and a debt to equity ratio of 1.31.

Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative net margin of 147.39% and a negative return on equity of 35.76%. In the same quarter last year, the company reported ($0.21) earnings per share. As a group, equity analysts are forecasting that Pacific Biosciences of California, Inc. will report earnings per share of -1.37 for the current fiscal year.

Institutional trading by Pacific Biosciences of California

Hedge funds have recently changed their stock holdings. Goldman Sachs Group Inc. increased its position in Pacific Biosciences of California by 190.5% in the second quarter. Goldman Sachs Group Inc. now owns 8,438,572 shares of the biotechnology company valued at $37,299,000 after purchasing an additional 5,533,953 shares last quarter. Price T Rowe Associates Inc. MD increased its position in Pacific Biosciences of California shares by 68.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,284,090 shares of the biotechnology company’s stock valued at $45,456,000 after purchasing an additional 4,179,997 shares during the period. Bellevue Group AG increased its stake in Pacific Biosciences of California by 214.3% in the first quarter. Bellevue Group AG now owns 4,881,752 shares of the biotechnology company valued at $44,424,000 after purchasing an additional 3,328,729 shares during the period. invesco ltd increased its stake in Pacific Biosciences of California by 3,355.2% in the fourth quarter. invesco ltd now owns 3,195,790 shares of the biotechnology company valued at $65,386,000 after purchasing an additional 3,103,297 shares during the period. Finally, Blue Water Life Science Advisors LP acquired a new interest in Pacific Biosciences of California during the first quarter for $24,206,000.

About Pacific Biosciences of California

(received rating)

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to solve genetically complex problems. The Company provides PacBio’s systems that perform, monitor and analyze biochemical sequencing reactions; consumables including single molecule real time cells (SMRT); and various reagent kits designed for specific workflows, such as B. A template preparation kit for converting DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents such as ligase, buffers and exonucleases.

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