Pacific Biosciences of California Inc [NASDAQ: PACB] price plunged by -2.49 percent to reach at -$0.09. The company report on March 22, 2024 at 4:30 PM that PacBio Grants Equity Incentive Award to New Employee.
PacBio (NASDAQ: PACB), a leading provider of high-quality, highly accurate sequencing platforms, today announced that the Compensation Committee of the Company’s Board of Directors granted a non-qualified stock option (the “Option”) covering an aggregate of 79,600 shares of PacBio common stock and restricted stock units (“RSUs”) covering 39,800 shares of PacBio common stock to a recently hired employee under the Pacific Biosciences 2020 Inducement Equity Incentive Plan (the “2020 Inducement Plan”), effective on March 18, 2024. The award was granted as an inducement material to such individual’s entering into employment with PacBio in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The Option has an exercise price of $3.67 per share, which is equal to the closing price of PacBio common stock on March 18, 2024 (the “Effective Date”). The shares subject to the Option are scheduled to vest and become exercisable as to 1/4th of the total number of shares subject at grant to the Option on the one (1) year anniversary of the Effective Date and as to 1/48th of the total shares subject at grant to the Option each month thereafter on the same day of the month as the Effective Date (or the last day of the month, if a particular month does not have a corresponding day). The shares subject to the RSUs are scheduled to vest as to 1/4th of the total number of shares subject at grant to the RSUs on each of the one (1), two (2), three (3), and four (4) year anniversaries of the Effective Date. The Option and the RSUs are subject to the terms and conditions of the 2020 Inducement Plan and the applicable award agreements thereunder entered into by the employee. Vesting of the shares subject to each of the Option and the RSUs is conditioned upon the employee’s continued service through each applicable vesting date.
The one-year PACB stock forecast points to a potential upside of 65.99. The average equity rating for PACB stock is currently 1.73, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $10.35 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. While these analysts kept the previous recommendation, Guggenheim raised their target price to Neutral. The new note on the price target was released on December 14, 2023, representing the official price target for Pacific Biosciences of California Inc stock. On November 17, 2023, analysts decreased their price target for PACB shares from 13 to 10.
The Average True Range (ATR) for Pacific Biosciences of California Inc is set at 0.38, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 4.70. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 2.36.
PACB Stock Performance Analysis:
Pacific Biosciences of California Inc [PACB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.30. With this latest performance, PACB shares dropped by -32.70% in over the last four-week period, additionally sinking by -58.39% over the last 6 months – not to mention a drop of -63.37% 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 29.48, with the RSI for the last a single of trading hit 27.11, and the three-weeks RSI is set at 31.78 for Pacific Biosciences of California Inc [PACB]. The present Moving Average for the last 50 days of trading for this stock 5.51, while it was recorded at 3.69 for the last single week of trading, and 8.91 for the last 200 days.
Insight into Pacific Biosciences of California Inc Fundamentals:
Pacific Biosciences of California Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.21 and a Current Ratio set at 7.81.
PACB Stock EPS
With the latest financial reports released by the company, Pacific Biosciences of California Inc posted -0.36/share EPS, while the average EPS was predicted by analysts to be reported at -0.33/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.10%. 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] Institutonal Ownership Details
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%.
