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

Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) saw some unusual options trading on Friday. Stock traders acquired 8,572 call options on the stock. This represents an increase of 66% compared to the average volume of 5,163 call options.

Analysts Set New Price Targets

PACB has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on Pacific Biosciences of California from $6.00 to $11.00 in a report on Wednesday, November 16th. Scotiabank started coverage on Pacific Biosciences of California in a report on Wednesday, January 4th. They issued a “sector outperform” rating and a $12.00 target price on the stock. Cantor Fitzgerald cut Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $12.00 target price on the stock. in a report on Friday. They noted that the move was a valuation call. Finally, Canaccord Genuity Group lifted their target price on Pacific Biosciences of California from $12.00 to $14.00 in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.17.

Insider Activity at Pacific Biosciences of California

In related news, insider Christian O. Henry sold 45,000 shares of Pacific Biosciences of California stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $10.84, for a total transaction of $487,800.00. Following the transaction, the insider now directly owns 643,551 shares in the company, valued at $6,976,092.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Biosciences of California news, insider Christian O. Henry sold 45,000 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $10.84, for a total transaction of $487,800.00. Following the sale, the insider now directly owns 643,551 shares of the company’s stock, valued at $6,976,092.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Oene Mark Van sold 26,722 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $9.53, for a total value of $254,660.66. Following the sale, the insider now directly owns 640,808 shares in the company, valued at $6,106,900.24. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PACB. Captrust Financial Advisors grew its position in Pacific Biosciences of California by 217.2% in the second quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 4,220 shares in the last quarter. Byrne Asset Management LLC grew its position in Pacific Biosciences of California by 55.8% in the third quarter. Byrne Asset Management LLC now owns 5,140 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 1,840 shares in the last quarter. National Bank of Canada FI grew its position in Pacific Biosciences of California by 130.8% in the third quarter. National Bank of Canada FI now owns 6,000 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 3,400 shares in the last quarter. Versor Investments LP purchased a new position in Pacific Biosciences of California in the second quarter worth about $44,000. Finally, Carret Asset Management LLC purchased a new position in Pacific Biosciences of California in the second quarter worth about $53,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $11.29 on Friday. Pacific Biosciences of California has a 12-month low of $3.85 and a 12-month high of $14.20. The company has a current ratio of 11.19, a quick ratio of 10.66 and a debt-to-equity ratio of 1.43. The stock’s 50-day moving average price is $9.73 and its 200-day moving average price is $7.50. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -8.43 and a beta of 1.59.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last released its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. The company had revenue of $32.31 million during the quarter, compared to analyst estimates of $35.30 million. Pacific Biosciences of California had a negative return on equity of 42.03% and a negative net margin of 218.44%. Equities research analysts predict that Pacific Biosciences of California will post -1.37 EPS for the current fiscal year.

Pacific Biosciences of California Company Profile

(Get Rating)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; 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.

Further Reading

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