Pacific Biosciences of California (NASDAQ:PACB) Insider Sells $229,624.62 in Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Christian Henry sold 140,874 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $1.63, for a total value of $229,624.62. Following the sale, the insider owned 2,673,500 shares in the company, valued at $4,357,805. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pacific Biosciences of California Price Performance

PACB traded up $0.05 on Thursday, reaching $1.68. The stock had a trading volume of 4,308,048 shares, compared to its average volume of 7,583,859. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88. The company has a market capitalization of $507.21 million, a price-to-earnings ratio of -0.91 and a beta of 2.27. Pacific Biosciences of California, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.73. The firm has a 50-day moving average of $2.02 and a 200-day moving average of $1.77.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 12th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. Pacific Biosciences of California had a negative return on equity of 251.75% and a negative net margin of 341.47%.The company had revenue of $44.65 million for the quarter, compared to analysts’ expectations of $44.60 million. As a group, sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Thursday, January 22nd. Stephens increased their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Barclays lifted their price objective on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Finally, Piper Sandler upped their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $2.20.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Outlook Wealth Advisors LLC bought a new position in shares of Pacific Biosciences of California in the fourth quarter valued at $34,000. Cibc World Markets Corp acquired a new stake in shares of Pacific Biosciences of California in the 4th quarter worth about $34,000. Zacks Investment Management bought a new position in Pacific Biosciences of California in the 3rd quarter valued at about $25,000. Mercer Global Advisors Inc. ADV lifted its position in Pacific Biosciences of California by 47.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,663 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 6,695 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Pacific Biosciences of California during the 4th quarter valued at about $40,000.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.