Pacific Biosciences of California Inc [NASDAQ: PACB] surged by $0.07 during the normal trading session on while it closed the day at $6.71. The company report on February 5, 2024 at 9:05 AM that PacBio Announces HiFi Prep Kit 96 and HiFi Plex Prep Kit 96 for Long-Read Sequencing Applications at Scale.
New Library Preparation Solutions Offer Never Before Achieved Scale for the Revio™ Sequencing System.
PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced two new high throughput library preparation kits and workflows optimized for its Revio sequencing system. With these kits, PacBio takes another leap forward in the long-read market by offering customers automated, scalable, and high-performance library preparation solutions with a 40 percent reduction in costs and a 60 percent decrease in workflow time. In addition, with the HiFi Plex Prep Kit 96 now including 384 validated barcode adapters, customers will have the groundbreaking ability to run 1,536 samples in a single Revio run.
Pacific Biosciences of California Inc stock has also gained 4.19% of its value over the past 7 days. However, PACB stock has inclined by 2.91% in the 3 months of the year. Over the past six months meanwhile, it has lost -41.90% and lost -31.60% year-on date.
The market cap for PACB stock reached $1.79 billion, with 267.44 million shares outstanding and 256.44 million shares in the current float. Compared to the average trading volume of 1.12 shares, PACB reached a trading volume of 7689819 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 $12.19 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 1.73. 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.
Stephens have made an estimate for Pacific Biosciences of California Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 14, 2023.
The Average True Range (ATR) for Pacific Biosciences of California Inc is set at 0.50, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 10.59. The Price to Book ratio for the last quarter was 2.27, with the Price to Cash per share for the same quarter was set at 2.87.
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 4.19. With this latest performance, PACB shares dropped by -4.14% in over the last four-week period, additionally sinking by -41.90% over the last 6 months – not to mention a drop of -32.97% 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 43.54, with the RSI for the last a single of trading hit 46.00, and the three-weeks RSI is set at 43.38 for Pacific Biosciences of California Inc [PACB]. The present Moving Average for the last 50 days of trading for this stock 8.06, while it was recorded at 6.56 for the last single week of trading, and 10.05 for the last 200 days.
Pacific Biosciences of California Inc [PACB]: An insightful look at the core fundamentals
Pacific Biosciences of California Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.43 and a Current Ratio set at 4.80.
Earnings per share (EPS) analysis for Pacific Biosciences of California Inc [PACB] stock
With the latest financial reports released by the company, Pacific Biosciences of California Inc posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.80%. 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]: Institutional Ownership
The top three institutional holders of PACB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PACB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PACB stock with ownership which is approximately 5.8325%.
