Pacific Biosciences of California (NASDAQ:PACB) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Pacific Biosciences of California, Inc. (NASDAQ:PACB)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.36. Pacific Biosciences of California shares last traded at $2.26, with a volume of 8,583,840 shares changing hands.

Analysts Set New Price Targets

PACB has been the subject of several recent research reports. Stephens lifted their price target on 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Thursday, January 22nd. Barclays raised their price objective on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, Piper Sandler increased their target price on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and a consensus price target of $2.08.

Pacific Biosciences of California Price Performance

The business’s fifty day moving average price is $2.18 and its 200-day moving average price is $1.74. The company has a market capitalization of $682.31 million, a P/E ratio of -1.03 and a beta of 2.20. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Wednesday, November 5th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Pacific Biosciences of California had a negative return on equity of 101.49% and a negative net margin of 325.02%.The business had revenue of $38.44 million for the quarter, compared to analysts’ expectations of $40.25 million. As a group, sell-side analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Zacks Investment Management bought a new stake in shares of Pacific Biosciences of California in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in Pacific Biosciences of California by 891.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 20,478 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Pacific Biosciences of California during the third quarter valued at about $29,000. Cim Investment Management Inc. grew its stake in shares of Pacific Biosciences of California by 100.7% during the second quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 12,822 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Pacific Biosciences of California by 47.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 9,739 shares during the last quarter.

About Pacific Biosciences of California

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.