Pacific Biosciences of California (NASDAQ:PACB) Insider Oene Mark Van Sells 129,790 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 129,790 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $1.58, for a total value of $205,068.20. Following the sale, the insider owned 1,797,745 shares of the company’s stock, valued at $2,840,437.10. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Oene Mark Van also recently made the following trade(s):

• On Wednesday, February 18th, Oene Mark Van sold 55,107 shares of Pacific Biosciences of California stock. The stock was sold at an average price of $1.63, for a total value of $89,824.41.

Pacific Biosciences of California Trading Up 3.1%

PACB stock traded up $0.05 during midday trading on Thursday, hitting $1.68. The company had a trading volume of 4,308,048 shares, compared to its average volume of 7,583,859. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88. Pacific Biosciences of California, Inc. has a 52 week low of $0.85 and a 52 week high of $2.73. The stock’s 50 day moving average price is $2.02 and its 200 day moving average price is $1.77. The stock has a market cap of $507.21 million, a price-to-earnings ratio of -0.91 and a beta of 2.27.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, February 12th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.07. Pacific Biosciences of California had a negative net margin of 341.47% and a negative return on equity of 251.75%. The firm had revenue of $44.65 million for the quarter, compared to analysts’ expectations of $44.60 million. As a group, equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PACB has been the subject of several recent analyst reports. Stephens upped their price objective on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Thursday, January 22nd. Barclays upped their price target on Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, Piper Sandler lifted their price objective on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and an average target price of $2.20.

Institutional Trading of Pacific Biosciences of California

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zacks Investment Management bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Pacific Biosciences of California by 891.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 20,478 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Pacific Biosciences of California during the third quarter valued at approximately $29,000. Cim Investment Management Inc. raised its holdings in Pacific Biosciences of California by 100.7% in the second quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 12,822 shares in the last quarter. Finally, Outlook Wealth Advisors LLC bought a new position in Pacific Biosciences of California in the fourth quarter worth $34,000.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.