Pacific Biosciences of California (NASDAQ:PACB) Trading Down 5.3%

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report)'s stock price dropped 5.3% during trading on Tuesday . The company traded as low as $1.88 and last traded at $1.89. Approximately 4,993,107 shares were traded during trading, a decline of 50% from the average daily volume of 9,958,603 shares. The stock had previously closed at $1.99.

Wall Street Analyst Weigh In

PACB has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and lowered their price target for the company from $7.00 to $2.50 in a report on Thursday, April 18th. Sanford C. Bernstein lowered their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an "outperform" rating for the company in a report on Thursday, April 18th. UBS Group reduced 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 research report on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Pacific Biosciences of California from an "overweight" rating to a "neutral" rating in a research report on Monday, April 22nd. Finally, StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of "Hold" and an average price target of $7.77.

Pacific Biosciences of California Stock Down 6.0 %

The company's 50-day moving average is $3.24 and its 200 day moving average is $6.08. The company has a market capitalization of $509.28 million, a PE ratio of -1.64 and a beta of 1.99. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.02. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The company had revenue of $58.36 million for the quarter, compared to the consensus estimate of $57.96 million. During the same period in the prior year, the firm posted ($0.35) EPS. Pacific Biosciences of California's revenue for the quarter was up 113.3% on a year-over-year basis. As a group, analysts anticipate that Pacific Biosciences of California, Inc. will post -1 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 33,560 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the transaction, the insider now owns 876,611 shares in the company, valued at approximately $5,224,601.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David W. Meline bought 40,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the purchase, the director now owns 40,000 shares of the company's stock, valued at $176,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Oene Mark Van sold 33,560 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the transaction, the insider now owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,359 shares of company stock valued at $218,843. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors have recently made changes to their positions in the business. Interchange Capital Partners LLC lifted its stake in shares of Pacific Biosciences of California by 11.9% in the 4th quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company's stock worth $184,000 after purchasing an additional 1,991 shares during the period. Private Advisor Group LLC lifted its stake in shares of Pacific Biosciences of California by 11.4% in the 3rd quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company's stock worth $165,000 after purchasing an additional 2,027 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Pacific Biosciences of California by 0.5% in the 4th quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company's stock worth $5,719,000 after purchasing an additional 2,832 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Pacific Biosciences of California by 18.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,227 shares of the biotechnology company's stock worth $169,000 after purchasing an additional 3,149 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Pacific Biosciences of California by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,886 shares of the biotechnology company's stock worth $492,000 after purchasing an additional 3,391 shares during the period.

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.

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