Pacific Biosciences of California Target of Unusually Large Options Trading (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) was the target of some unusual options trading activity on Thursday. Traders purchased 7,874 put options on the stock. This is an increase of 60% compared to the average volume of 4,911 put options.

Wall Street Analysts Forecast Growth

PACB has been the topic of several research reports. Piper Sandler decreased their price target on shares of Pacific Biosciences of California from $13.00 to $6.00 and set a “na” rating on the stock in a research note on Sunday, May 15th. Canaccord Genuity Group dropped their price target on shares of Pacific Biosciences of California from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday. Cowen set a $9.00 price objective on shares of Pacific Biosciences of California in a report on Tuesday, July 19th. Finally, Cantor Fitzgerald lowered their price target on shares of Pacific Biosciences of California from $23.00 to $19.00 in a report on Thursday, May 5th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.17.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $6.06 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -6.59 and a beta of 1.43. The company has a current ratio of 16.87, a quick ratio of 16.38 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average is $4.80 and its two-hundred day moving average is $7.51. Pacific Biosciences of California has a 12-month low of $3.85 and a 12-month high of $34.95.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative net margin of 147.39% and a negative return on equity of 34.55%. During the same quarter last year, the company posted ($0.21) EPS. Research analysts expect that Pacific Biosciences of California will post -1.38 EPS for the current year.

Institutional Trading of Pacific Biosciences of California

Several large investors have recently bought and sold shares of PACB. Bellevue Group AG grew its position in shares of Pacific Biosciences of California by 214.3% during the first quarter. Bellevue Group AG now owns 4,881,752 shares of the biotechnology company’s stock worth $44,424,000 after buying an additional 3,328,729 shares in the last quarter. Invesco Ltd. grew its position in shares of Pacific Biosciences of California by 3,355.2% during the fourth quarter. Invesco Ltd. now owns 3,195,790 shares of the biotechnology company’s stock worth $65,386,000 after buying an additional 3,103,297 shares in the last quarter. Blue Water Life Science Advisors LP acquired a new stake in shares of Pacific Biosciences of California during the first quarter worth approximately $24,206,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Pacific Biosciences of California by 27.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,915,025 shares of the biotechnology company’s stock worth $243,781,000 after buying an additional 2,567,023 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Pacific Biosciences of California by 27.5% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 11,915,025 shares of the biotechnology company’s stock worth $244,854,000 after buying an additional 2,567,023 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

About Pacific Biosciences of California

(Get Rating)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template 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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