Michele Farmer Sells 5,275 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 5,275 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $2.03, for a total value of $10,708.25. Following the completion of the transaction, the insider now directly owns 211,941 shares of the company’s stock, valued at $430,240.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 shares were sold at an average price of $4.87, for a total value of $14,454.16.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.94 on Friday. The business’s 50 day moving average is $2.53 and its two-hundred day moving average is $5.64. The company has a current ratio of 9.28, a quick ratio of 8.36 and a debt-to-equity ratio of 1.38. 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 announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Pacific Biosciences of California had a negative return on equity of 40.26% and a negative net margin of 148.13%. The business had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $38.78 million. On average, equities analysts expect that Pacific Biosciences of California, Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PACB. The Goldman Sachs Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and reduced their target price for the company from $7.00 to $2.50 in a research report on Thursday, April 18th. Scotiabank reduced their target price on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. lowered Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research report on Monday, April 22nd. Piper Sandler dropped their price target on Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, UBS Group dropped their price target on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.59.

Hedge Funds Weigh In On Pacific Biosciences of California

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Pacific Biosciences of California in the third quarter valued at approximately $105,000. Allspring Global Investments Holdings LLC grew its position in Pacific Biosciences of California by 52.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,962 shares of the biotechnology company’s stock worth $175,000 after acquiring an additional 7,184 shares during the period. FDx Advisors Inc. grew its position in Pacific Biosciences of California by 31.3% in the third quarter. FDx Advisors Inc. now owns 18,366 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 4,378 shares during the period. Principal Financial Group Inc. grew its position in Pacific Biosciences of California by 7.5% in the third quarter. Principal Financial Group Inc. now owns 64,224 shares of the biotechnology company’s stock worth $536,000 after acquiring an additional 4,488 shares during the period. Finally, Private Advisor Group LLC grew its position in Pacific Biosciences of California by 11.4% in the third quarter. Private Advisor Group LLC now owns 19,740 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 2,027 shares during the period.

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.