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

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Michele Farmer sold 5,275 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $2.03, for a total transaction of $10,708.25. Following the transaction, the insider now directly owns 211,941 shares in the company, valued at approximately $430,240.23. The transaction was disclosed in a filing with the SEC, which is available through 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 Up 1.1 %

NASDAQ:PACB traded up $0.02 on Wednesday, hitting $1.85. The stock had a trading volume of 7,687,883 shares, compared to its average volume of 10,213,588. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55. The firm’s fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $5.69. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28. The stock has a market cap of $503.87 million, a P/E ratio of -1.66 and a beta of 1.99.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). The company had revenue of $38.81 million during the quarter, compared to the consensus estimate of $38.78 million. Pacific Biosciences of California had a negative return on equity of 40.26% and a negative net margin of 148.13%. Analysts predict that Pacific Biosciences of California, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Scotiabank reduced their price objective on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and reduced their price target for the company from $7.00 to $2.50 in a research report on Thursday, April 18th. Sanford C. Bernstein lowered their price objective on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Barclays dropped their price objective on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley decreased their target price on shares of Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $6.59.

Institutional Investors Weigh In On Pacific Biosciences of California

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Pacific Biosciences of California during the first quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Pacific Biosciences of California in the first quarter worth about $38,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Pacific Biosciences of California in the third quarter valued at about $59,000. Kennedy Capital Management LLC bought a new position in shares of Pacific Biosciences of California during the 1st quarter valued at approximately $64,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Pacific Biosciences of California during the 1st quarter worth approximately $80,000.

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.