Pacific Biosciences of California (NASDAQ:PACB) Trading Down 5.8% – Should You Sell?

Pacific Biosciences of California, Inc. (NASDAQ:PACB) shares were down 5.8% during trading on Friday . The stock traded as low as $2.41 and last traded at $2.3750. Approximately 1,759,053 shares changed hands during trading, a decline of 81% from the average daily volume of 9,301,981 shares. The stock had previously closed at $2.52.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PACB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Stephens boosted their price objective on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Wall Street Zen upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Piper Sandler raised their price objective on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.00.

Pacific Biosciences of California Trading Down 6.5%

The company has a debt-to-equity ratio of 17.88, a current ratio of 6.24 and a quick ratio of 5.40. The business’s 50-day moving average price is $1.86 and its two-hundred day moving average price is $1.48. The company has a market capitalization of $711.00 million, a P/E ratio of -1.07 and a beta of 2.32.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. As a group, analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Institutional Trading of Pacific Biosciences of California

A number of institutional investors have recently modified their holdings of PACB. Intech Investment Management LLC boosted its position in Pacific Biosciences of California by 5.2% during the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 6,564 shares during the last quarter. Rhumbline Advisers raised its holdings in Pacific Biosciences of California by 2.1% during the third quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock worth $532,000 after acquiring an additional 8,532 shares in the last quarter. Cetera Investment Advisers boosted its position in Pacific Biosciences of California by 10.1% during the second quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 9,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Pacific Biosciences of California by 47.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 9,739 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Pacific Biosciences of California by 6.5% in the third quarter. Raymond James Financial Inc. now owns 161,865 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 9,896 shares during the last quarter.

About Pacific Biosciences of California

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.