Pacific Biosciences of California Target of Unusually Large Options Trading (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the target of some unusual options trading on Monday. Stock traders acquired 8,267 call options on the stock. This represents an increase of approximately 231% compared to the average volume of 2,497 call options.

Pacific Biosciences of California Stock Down 1.1%

NASDAQ PACB opened at $1.82 on Tuesday. Pacific Biosciences of California has a 52 week low of $0.85 and a 52 week high of $2.73. The company has a quick ratio of 5.40, a current ratio of 6.24 and a debt-to-equity ratio of 17.88. The business’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $1.59. The firm has a market cap of $549.48 million, a PE ratio of -0.83 and a beta of 2.32.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. The firm had revenue of $3.34 million during the quarter. As a group, equities analysts anticipate that Pacific Biosciences of California will post -0.72 earnings per share for the current year.

Institutional Trading of Pacific Biosciences of California

Several institutional investors have recently made changes to their positions in the company. Zacks Investment Management purchased a new position in Pacific Biosciences of California in the third quarter worth approximately $25,000. Jump Financial LLC purchased a new stake in Pacific Biosciences of California in the first quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Pacific Biosciences of California by 891.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 20,478 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $29,000. Finally, Cim Investment Management Inc. grew its holdings in shares of Pacific Biosciences of California by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 12,822 shares during the period.

Analyst Ratings Changes

PACB has been the subject of several research reports. Piper Sandler boosted their price target on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Barclays lifted their target price on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Stephens increased their target price on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.08.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.