Pacific Biosciences of California (NASDAQ:PACB) shares traded down 5.3% on Tuesday . The stock traded as low as $5.46 and last traded at $5.49, 1,208,984 shares were traded during mid-day trading. A decline of 27% from the average session volume of 1,658,177 shares. The stock had previously closed at $5.80.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Cantor Fitzgerald set a $8.00 price objective on shares of Pacific Biosciences of California and gave the company a “hold” rating in a research report on Thursday, June 20th. BidaskClub upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine cut shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Six research analysts have rated the stock with a hold rating, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average target price of $7.50.

The business’s 50-day moving average price is $5.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. The company has a market cap of $868.84 million, a PE ratio of -7.22 and a beta of 1.93.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The company had revenue of $24.62 million during the quarter, compared to analysts’ expectations of $22.27 million. As a group, analysts expect that Pacific Biosciences of California will post -0.64 earnings per share for the current year.

Several large investors have recently modified their holdings of PACB. Quantamental Technologies LLC acquired a new stake in shares of Pacific Biosciences of California during the 1st quarter worth approximately $53,000. FNY Investment Advisers LLC boosted its stake in Pacific Biosciences of California by 211.1% during the 2nd quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 7,600 shares during the last quarter. Bank of Montreal Can boosted its stake in Pacific Biosciences of California by 291.6% during the 2nd quarter. Bank of Montreal Can now owns 15,883 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 11,827 shares during the last quarter. Weiss Asset Management LP bought a new position in Pacific Biosciences of California during the 1st quarter worth approximately $104,000. Finally, Boston Private Wealth LLC bought a new position in Pacific Biosciences of California during the 2nd quarter worth approximately $115,000. Institutional investors own 73.02% of the company’s stock.

About Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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