Pacific Biosciences of California Inc (NASDAQ:PACB) finished Friday with a subtraction of -$0.01 to close at $8.35, a downside of -0.12 percent. An average of 4,186,380 shares of common stock have been traded in the last five days. There was a fall of -$0.59 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 4,009,810 shares traded, while the 50-day average volume stands at 3,793,648.
PACB stock has decreased by -25.51% in the last month. The company shares reached their 1-month lowest point of $8.16 on 09/27/23. With the stock rallying to its 52-week high on 07/18/23, shares of the company touched a low of $4.97 and a high of $14.55 in 52 weeks. It has reached a new high 19 times so far this year and achieved 2.08% or $0.17 in price. In spite of this, the price is down -42.61% from the 52-week high.
Insider Transactions
PACB stock investors should be aware that Pacific Biosciences of California Inc (PACB) stock had its last reported insider trading activity 1 day ago on Sep 29. In this transaction, the insider spent $162,471., HENRY CHRISTIAN O, disposed of 96,844 shares at a price of $10.12 on Sep 18. The insider now owns more than $980,255 worth of shares. Prior to that, HENRY CHRISTIAN O went on to Sale 10,000 shares at $10.45 each on Sep 11. An amount of $104,520 was transacted.
Valuation Metrics
Pacific Biosciences of California Inc (PACB) stock’s beta is 1.71. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 14.32, the price-to-book (PB) ratio at 3.26.
Financial Health
The quick ratio of Pacific Biosciences of California Inc for the three months ended June 29 was 3.20, and the current ratio was 3.45, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.45 and a total debt to equity ratio of 1.46 for the quarter ending June 29. Its gross profit as reported stood at $49.03 million compared to revenue of $128.3 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$69.83 million in the quarter, while revenues were shrunk -2.23%. The analyst consensus anticipated Pacific Biosciences of California Inc’s latest quarter earnings to come in at -$0.32 per share, but it turned out to be -$0.28, a 12.50% surprise. For the quarter, EBITDA amounted to -$72.11 million. Shareholders own equity worth $250.56 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Pacific Biosciences of California Inc (PACB) price momentum. RSI 9-day as of the close on 29 September was 25.15%, suggesting the stock is oversold, with historical volatility in this time frame at 33.24%.
As of today, PACB’s price is $8.35 -6.60% or -$0.59 from its 5-day moving average. PACB is currently trading -25.98% lower than its 20-day SMA and -31.84% lower than its 100-day SMA. However, the stock’s current price level is -36.69% below the SMA50 and -12.20% below the SMA200.
The stochastic %K and %D were 5.18% and 4.02%, respectively, and the average true range (ATR) was 0.47. With the 14-day stochastic at 5.01% and the average true range at 0.51, the RSI (14) stands at 29.21%. The stock has reached -0.37 on the 9-day MACD Oscillator while the 14-day reading was at -1.08.
Analyst Ratings
Bernstein launched coverage on Pacific Biosciences of California Inc (NASDAQ: PACB) in its analyst report released on September 28, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Pacific Biosciences of California Inc (PACB) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PACB, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 6 others rate it as a “buy”.
What is PACB’s price target for the next 12 months?
Analysts predict a range of price targets between $9.00 and $19.00, with a median target of $14.50. Taking a look at these predictions, the average price target given by analysts for Pacific Biosciences of California Inc (PACB) stock is $14.42.
