The price of Pacific Biosciences of California Inc. (NASDAQ:PACB) shares last traded on Wall Street fell -4.94% to $11.94.
As we calculate the median target price by taking the range between a high of $17.00 and a low of $12.00, we find $13.50. Given the previous closing price of $12.56, this indicates a potential upside of 7.48 percent. PACB stock price is now 9.75% away from the 50-day moving average and 31.16% away from the 200-day moving average. The market capitalization of the company currently stands at $2.98B.
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Brokers who have rated the stock have averaged $13.80 as their price target over the next twelve months.
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In other news, Farmer Michele, insider sold 5,165 shares of the company’s stock on May 18. The stock was sold for $65,027 at an average price of $12.59. Upon completion of the transaction, the insider now directly owns 107,577 shares in the company, valued at $1.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15, Director Ericson William W. sold 7,541 shares of the business’s stock. A total of $67,115 was realized by selling the stock at an average price of $8.90. This leaves the insider owning 18,795 shares of the company worth $0.22 million. Insiders disposed of 214,210 shares of company stock worth roughly $2.56 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PACB stock. A new stake in Pacific Biosciences of California Inc. shares was purchased by AVIDITY PARTNERS MANAGEMENT LP during the first quarter worth $45,522,000. DEEP TRACK CAPITAL, LP invested $41,842,000 in shares of PACB during the first quarter. In the first quarter, BRAIDWELL LP acquired a new stake in Pacific Biosciences of California Inc. valued at approximately $13,102,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in PACB for approximately $12,948,000. BLACKSTONE INC. purchased a new stake in PACB valued at around $11,940,000 in the second quarter. In total, there are 328 active investors with 88.90% ownership of the company’s stock.
A candlestick chart of Pacific Biosciences of California Inc. (NASDAQ: PACB) showed a price of $12.30 on Wednesday morning. During the past 12 months, Pacific Biosciences of California Inc. has had a low of $3.85 and a high of $14.20. As of last week, the company has a debt-to-equity ratio of 1.30, a current ratio of 3.70, and a quick ratio of 3.50. The fifty day moving average price for PACB is $10.94 and a two-hundred day moving average price translates $9.13 for the stock.
The latest earnings results from Pacific Biosciences of California Inc. (NASDAQ: PACB) was released for Mar, 2023. According to the Medical Devices Company, earnings per share came in at -$0.36, missing analysts’ expectations of -$0.33 by -0.03. This compares to -$0.37 EPS in the same period last year. The company reported revenue of $38.9 million for the quarter, compared to $33.17 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.26 percent. For the current quarter, analysts expect PACB to generate $40.5M in revenue.
Pacific Biosciences of California Inc.(PACB) Company Profile
Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; public health labs, hospitals and clinical research institutes, contract research organizations, and academic institutions; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. It has a development and commercialization agreement with Invitae Corporation. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.
