Insider Selling: Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells 5,275 Shares of Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 5,275 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $2.03, for a total transaction of $10,708.25. Following the transaction, the insider now directly owns 211,941 shares of the company’s stock, valued at approximately $430,240.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Michele Farmer also recently made the following trade(s):

• On Monday, March 4th, Michele Farmer sold 2,968 shares of Pacific Biosciences of California stock. The stock was sold at an average price of $4.87, for a total transaction of $14,454.16.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB traded down $0.07 during trading on Thursday, hitting $1.78. 1,491,887 shares of the company were exchanged, compared to its average volume of 10,120,046. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55. The firm’s fifty day moving average price is $2.57 and its 200 day moving average price is $5.67. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $38.81 million for the quarter, compared to analyst estimates of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. As a group, analysts anticipate that Pacific Biosciences of California, Inc. will post -0.91 EPS for the current year.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in shares of Pacific Biosciences of California by 67.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,094,724 shares of the biotechnology company’s stock worth $10,739,000 after buying an additional 442,250 shares in the last quarter. Moody Aldrich Partners LLC acquired a new position in Pacific Biosciences of California in the 4th quarter valued at about $4,103,000. ARK Investment Management LLC raised its stake in Pacific Biosciences of California by 15.7% in the 4th quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock valued at $338,487,000 after purchasing an additional 4,681,833 shares during the last quarter. Nordea Investment Management AB raised its stake in Pacific Biosciences of California by 37.5% in the 3rd quarter. Nordea Investment Management AB now owns 149,131 shares of the biotechnology company’s stock valued at $1,255,000 after purchasing an additional 40,667 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Pacific Biosciences of California by 452.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 330,331 shares of the biotechnology company’s stock valued at $2,758,000 after purchasing an additional 270,573 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PACB shares. Morgan Stanley decreased their price target on shares of Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Scotiabank cut their price objective on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. UBS Group cut their price objective on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Friday, February 16th. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $2.50 in a report on Thursday, April 18th. Finally, TD Cowen cut their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.59.

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.