Pacific Biosciences of California (NASDAQ:PACB) Shares Gap Down - Time to Sell?

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $1.48, but opened at $1.43. Pacific Biosciences of California shares last traded at $1.87, with a volume of 17,030,449 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on PACB shares. Piper Sandler lifted their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a "neutral" rating in a research report on Monday, November 11th. The Goldman Sachs Group cut their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Scotiabank cut their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a "sector outperform" rating on the stock in a research report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a research report on Thursday, January 9th. Finally, UBS Group downgraded shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price target on the stock. in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $2.85.

Pacific Biosciences of California Stock Up 13.9 %

The firm has a market cap of $461.45 million, a P/E ratio of -1.15 and a beta of 1.92. The stock's 50 day simple moving average is $1.81 and its 200 day simple moving average is $1.80. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 227.69% and a negative return on equity of 42.71%. During the same period last year, the business posted ($0.27) earnings per share. Research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.91 EPS for the current year.

Insider Transactions at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PACB. The Manufacturers Life Insurance Company increased its position in shares of Pacific Biosciences of California by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 329,815 shares of the biotechnology company's stock worth $452,000 after purchasing an additional 15,567 shares during the last quarter. Creative Planning grew its position in Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 7,629 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Pacific Biosciences of California by 54.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 67,364 shares of the biotechnology company's stock valued at $115,000 after acquiring an additional 23,619 shares during the last quarter. Impact Partnership Wealth LLC grew its position in Pacific Biosciences of California by 44.7% during the third quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company's stock valued at $67,000 after acquiring an additional 12,093 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in Pacific Biosciences of California during the third quarter valued at approximately $43,000.

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.

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