Investors Buy Large Volume of Call Options on Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) saw unusually large options trading activity on Tuesday. Investors acquired 31,944 call options on the stock. This is an increase of approximately 477% compared to the average daily volume of 5,533 call options.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PACB shares. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. Stephens reaffirmed an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Finally, Piper Sandler lifted their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.83.

Insiders Place Their Bets

In related news, insider Michele Farmer sold 24,349 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the transaction, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Biosciences of California

Several large investors have recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. boosted its position in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Creative Planning lifted its stake in Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 7,629 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Pacific Biosciences of California by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 8,106 shares during the last quarter. Atria Investments Inc grew its position in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its position in shares of Pacific Biosciences of California by 29.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 11,566 shares during the last quarter.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.77 on Thursday. The stock’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $1.79. The firm has a market capitalization of $484.73 million, a PE ratio of -1.08 and a beta of 1.92. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $6.09. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The company had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter last year, the company earned ($0.27) earnings per share. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.68 EPS for the current fiscal year.

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.