During the last session, Pacific Biosciences of California Inc. (NASDAQ:PACB)’s traded shares were 7.55 million, with the beta value of the company hitting 1.46. At the end of the trading day, the stock’s price was $5.21, reflecting an intraday gain of 7.42% or $0.36. The 52-week high for the PACB share is $35.58, that puts it down -582.92 from that peak though still a striking 26.1% gain since the share price plummeted to a 52-week low of $3.85. The company’s market capitalization is $1.20B, and the average intraday trading volume over the past 10 days was 5.7 million shares, and the average trade volume was 6.76 million shares over the past three months.
Pacific Biosciences of California Inc. (PACB) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.30. PACB has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.32.
Pacific Biosciences of California Inc. (NASDAQ:PACB) trade information
Pacific Biosciences of California Inc. (PACB) registered a 7.42% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 7.42% in intraday trading to $5.21 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 16.04%, and it has moved by 0.19% in 30 days. Based on these gigs, the overall price performance for the year is -82.75%. The short interest in Pacific Biosciences of California Inc. (NASDAQ:PACB) is 36.03 million shares and it means that shorts have 5.82 day(s) to cover.
The consensus price target of analysts on Wall Street is $14.17, which implies an increase of 63.23% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $20.00 respectively. As a result, PACB is trading at a discount of -283.88% off the target high and -15.16% off the low.
Pacific Biosciences of California Inc. (PACB) estimates and forecasts
Statistics show that Pacific Biosciences of California Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Pacific Biosciences of California Inc. (PACB) shares have gone down -54.46% during the last six months, with a year-to-date growth rate less than the industry average at -55.06% against 2.80. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -52.40% this quarter and then drop -500.00% in the quarter after that. In the rating firms’ projections, revenue will increase 24.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $35.7 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $44.52 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $30.61 million and $34.89 million respectively. In this case, analysts expect current quarter sales to grow by 16.60% and then jump by 27.60% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -1.30%. While earnings are projected to return -628.30% in 2022, the next five years will return -1.00% per annum.
Pacific Biosciences of California Inc. is due to release its next quarterly earnings between April 27 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Pacific Biosciences of California Inc. (NASDAQ:PACB)’s Major holders
Pacific Biosciences of California Inc. insiders own 8.71% of total outstanding shares while institutional holders control 96.67%, with the float percentage being 105.89%. ARK Investment Management, LLC is the largest shareholder of the company, while 344 institutions own stock in it. As of Jun 29, 2022, the company held over 28.05 million shares (or 12.50% of all shares), a total value of $123.96 million in shares.
The next largest institutional holding, with 22.54 million shares, is of Jackson Square Partners, Llc’s that is approximately 10.05% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $205.14 million.
Also, the Mutual Funds coming in first place with the largest holdings of Pacific Biosciences of California Inc. (PACB) shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. Data provided on Jun 29, 2022 indicates that ARK ETF Tr-ARK Innovation ETF owns about 13.81 million shares. This amounts to just over 6.16 percent of the company’s overall shares, with a $61.06 million market value. The same data shows that the other fund manager holds slightly less at 12.0 million, or about 5.35% of the stock, which is worth about $53.04 million.