Pacific Biosciences of California Inc. [NASDAQ: PACB] closed the trading session at $11.93 on 01/18/23. The day’s price range saw the stock hit a low of $11.71, while the highest price level was $12.54. The company report on January 13, 2023 that PacBio Celebrates Nature Methods Naming Long-Read Sequencing “Method of the Year”.
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PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today celebrated long-read sequencing being named Nature Methods’ “Method of the Year 2022.” Nature Methods had recognized the impact of long-read sequencing in a variety of groundbreaking studies, including those leveraging PacBio technology from the Vertebrate Genome Project, Telomere-to-Telomere Consortium, and Human Pangeome Reference Consortium, among others.
“PacBio has led a transformation of genomics by making long-read sequencing more accurate and accessible than ever with the introduction of HiFi sequencing,” said Christian Henry, President and Chief Executive Officer of PacBio. “Nature Methods recognizes the criticality of highly accurate long-read sequencing to continuing to advance genomic research. We believe that our customers’ use of the high-throughput Revio system, which we expect to begin shipping in the first quarter of 2023, will result in a dramatic increase in the use of long-read sequencing to power new studies.”.
The stocks have a year to date performance of 45.84 percent and weekly performance of 22.11 percent. The stock has been moved at 181.37 percent over the last six months. The stock has performed 31.68 percent around the most recent 30 days and changed 85.25 percent over the most recent 3-months.
If compared to the average trading volume of 4.89M shares, PACB reached to a volume of 4360789 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Pacific Biosciences of California Inc. [PACB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACB shares is $12.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACB stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for Pacific Biosciences of California Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on January 05, 2023. While these analysts kept the previous recommendation, Cantor Fitzgerald dropped their target price from $62 to $31. The new note on the price target was released on January 21, 2022, representing the official price target for Pacific Biosciences of California Inc. stock. Previously, the target price had yet another raise to $20, while Piper Sandler analysts kept a Neutral rating on PACB stock.
The Average True Range (ATR) for Pacific Biosciences of California Inc. is set at 0.84, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 19.58. The Price to Book ratio for the last quarter was 4.29, with the Price to Cash per share for the same quarter was set at 3.71.
PACB stock trade performance evaluation
Pacific Biosciences of California Inc. [PACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.11. With this latest performance, PACB shares gained by 31.68% in over the last four-week period, additionally plugging by 181.37% over the last 6 months – not to mention a drop of -4.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PACB stock in for the last two-week period is set at 70.87, with the RSI for the last a single of trading hit 79.43, and the three-weeks RSI is set at 65.63 for Pacific Biosciences of California Inc. [PACB]. The present Moving Average for the last 50 days of trading for this stock 9.61, while it was recorded at 11.14 for the last single week of trading, and 6.97 for the last 200 days.
Pacific Biosciences of California Inc. [PACB]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Pacific Biosciences of California Inc. [PACB] shares currently have an operating margin of -136.51 and a Gross Margin at +45.04. Pacific Biosciences of California Inc.’s Net Margin is presently recorded at -138.85.
Return on Equity for this stock declined to -32.18, with Return on Assets sitting at -14.97.
Pacific Biosciences of California Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.70 and a Current Ratio set at 11.20.
Earnings per share (EPS) analysis for Pacific Biosciences of California Inc. [PACB] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PACB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pacific Biosciences of California Inc. go to -1.00%.
Pacific Biosciences of California Inc. [PACB]: Insider Ownership positions
There are presently around $2,530 million, or 88.90% of PACB stock, in the hands of institutional investors. The top three institutional holders of PACB stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 28,692,494, which is approximately 2.307% of the company’s market cap and around 0.80% of the total institutional ownership; JACKSON SQUARE PARTNERS, LLC, holding 20,258,099 shares of the stock with an approximate value of $241.68 million in PACB stocks shares; and VANGUARD GROUP INC, currently with $234.57 million in PACB stock with ownership of nearly -7.435% of the company’s market capitalization.
Positions in Pacific Biosciences of California Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 106 institutional holders increased their position in Pacific Biosciences of California Inc. [NASDAQ:PACB] by around 26,974,931 shares. Additionally, 112 investors decreased positions by around 46,986,613 shares, while 48 investors held positions by with 138,103,328 shares. The mentioned changes placed institutional holdings at 212,064,872 shares, according to the latest SEC report filing. PACB stock had 45 new institutional investments in for a total of 18,257,647 shares, while 40 institutional investors sold positions of 7,378,959 shares during the same period.