Pacific Biosciences of California (NASDAQ:PACB) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.38 and traded as high as $1.51. Pacific Biosciences of California shares last traded at $1.47, with a volume of 4,339,654 shares traded.

Analyst Ratings Changes

Several equities analysts recently commented on PACB shares. Stephens restated an "overweight" rating and set a $1.80 target price on shares of Pacific Biosciences of California in a research report on Thursday, May 15th. Canaccord Genuity Group restated a "buy" rating and set a $3.00 target price on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. Piper Sandler cut their target price on Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a research report on Thursday, May 15th. Scotiabank cut their target price on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. Finally, Barclays cut their target price on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Pacific Biosciences of California currently has an average rating of "Hold" and a consensus price target of $2.06.

Pacific Biosciences of California Trading Down 0.7%

The company has a 50-day simple moving average of $1.19 and a 200-day simple moving average of $1.37. The company has a debt-to-equity ratio of 7.05, a quick ratio of 5.87 and a current ratio of 6.68. The stock has a market cap of $438.12 million, a P/E ratio of -0.52 and a beta of 2.16.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. Pacific Biosciences of California had a negative return on equity of 52.07% and a negative net margin of 430.93%. The firm had revenue of $37.15 million during the quarter, compared to the consensus estimate of $36.90 million. During the same quarter in the previous year, the company posted ($0.26) EPS. On average, sell-side analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Pacific Biosciences of California

Institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth $25,000. Sandbox Financial Partners LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth $32,000. Hartline Investment Corp bought a new stake in shares of Pacific Biosciences of California during the first quarter worth $37,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Pacific Biosciences of California by 47.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 9,739 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $42,000.

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.