Pacific Biosciences of California Target of Unusually High Options Trading (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) saw some unusual options trading on Tuesday. Stock investors purchased 31,944 call options on the company. This is an increase of 477% compared to the typical volume of 5,533 call options.

Pacific Biosciences of California Trading Down 6.1 %

NASDAQ PACB traded down $0.10 during trading hours 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. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $6.09. The firm has a market capitalization of $421.75 million, a P/E ratio of -0.94 and a beta of 1.92. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The stock has a fifty day moving average of $1.76 and a 200 day moving average of $1.79.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The company had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. During the same quarter in the prior year, the business posted ($0.27) EPS. Equities research analysts forecast that Pacific Biosciences of California will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PACB. Piper Sandler reiterated a "neutral" rating and issued a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday. The Goldman Sachs Group lowered their target price 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. 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. Stephens reissued an "overweight" rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research note on Friday, February 14th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.79.

Insider Buying and Selling at Pacific Biosciences of California

In related news, 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 transaction 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 $352,672.96. This trade represents a 11.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the business'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 completion of the transaction, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. raised its position in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 5,000 shares during the period. Atom Investors LP bought a new stake in Pacific Biosciences of California in the third quarter valued at approximately $30,000. Atria Investments Inc raised its holdings in Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 10,138 shares during the period. First Trust Advisors LP bought a new position in shares of Pacific Biosciences of California during the fourth quarter worth $42,000. Finally, Centiva Capital LP acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $40,000.

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.