Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells $10,708.25 in Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 5,275 shares of the firm’s 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 sale, the insider now owns 211,941 shares of the company’s stock, valued at approximately $430,240.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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 Up 4.9 %

Shares of NASDAQ:PACB opened at $1.94 on Friday. The firm has a 50 day moving average of $2.53 and a 200-day moving average of $5.64. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. Pacific Biosciences of California, Inc. has a 12 month low of $1.25 and a 12 month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). The business had revenue of $38.81 million during the quarter, compared to analysts’ expectations 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, equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of institutional investors have recently added to or reduced their stakes in the stock. EMC Capital Management increased its position in Pacific Biosciences of California by 159.5% in the 1st quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 20,100 shares during the period. Kennedy Capital Management LLC acquired a new position in Pacific Biosciences of California in the 1st quarter valued at approximately $64,000. Axxcess Wealth Management LLC increased its position in Pacific Biosciences of California by 61.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock valued at $132,000 after acquiring an additional 13,382 shares during the period. Interchange Capital Partners LLC increased its position in Pacific Biosciences of California by 53.1% in the 1st quarter. Interchange Capital Partners LLC now owns 28,641 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 9,932 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its position in Pacific Biosciences of California by 955.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock valued at $39,402,000 after acquiring an additional 9,511,787 shares during the period.

Analyst Upgrades and Downgrades

PACB has been the subject of several analyst reports. Scotiabank dropped their price objective on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. UBS Group dropped their price objective on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Friday, February 16th. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $7.00 to $2.50 in a research note on Thursday, April 18th. TD Cowen dropped their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Morgan Stanley dropped their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California currently has a consensus rating of “Hold” and an average target price of $6.59.

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.