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

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) insider Michele Farmer sold 24,349 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 of the company's stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Pacific Biosciences of California Stock Down 6.1 %

Shares of Pacific Biosciences of California stock traded down $0.10 during midday trading on Friday, hitting $1.54. The company's stock had a trading volume of 13,051,555 shares, compared to its average volume of 13,035,497. The firm has a market capitalization of $421.75 million, a P/E ratio of -0.94 and a beta of 1.92. The stock has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $1.79. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $6.09.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $39.22 million during the quarter, compared to analysts' expectations 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 last year, the firm posted ($0.27) earnings per share. As a group, sell-side analysts expect that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Institutional Trading of Pacific Biosciences of California

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pacific Biosciences of California by 7.4% during the fourth 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 acquiring an additional 38,103 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Pacific Biosciences of California by 19.8% during the fourth quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company's stock worth $307,000 after acquiring an additional 27,800 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Pacific Biosciences of California by 139.4% during the fourth quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company's stock worth $2,038,000 after acquiring an additional 648,407 shares in the last quarter. Finally, Softbank Group CORP. purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $37,426,000.

Wall Street Analysts Forecast Growth

PACB has been the subject of a number of research reports. The Goldman Sachs Group decreased their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Tuesday. Stephens reissued an "overweight" rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Piper Sandler reissued a "neutral" rating and set a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday. UBS Group lowered Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price objective for the company. in a research note on Monday, November 11th. Finally, Scotiabank reduced their price objective on 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.79.

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.