Pacific Biosciences of California Inc. (NASDAQ:PACB) has a beta value of 1.62 and has seen 3.35 million shares traded in the last trading session. The company, currently valued at $2.56B, closed the last trade at $11.33 per share which meant it gained $0.04 on the day or 0.35% during that session. The PACB stock price is -25.33% off its 52-week high price of $14.20 and 66.02% above the 52-week low of $3.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.21 million shares traded. The 3-month trading volume is 4.81 million shares.
The consensus among analysts is that Pacific Biosciences of California Inc. (PACB) is an Overweight stock at the moment, with a recommendation rating of 2.30. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 7 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.33.
Pacific Biosciences of California Inc. (NASDAQ:PACB) trade information
Sporting 0.35% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the PACB stock price touched $11.33 or saw a rise of 9.65%. Year-to-date, Pacific Biosciences of California Inc. shares have moved 38.51%, while the 5-day performance has seen it change 3.38%. Over the past 30 days, the shares of Pacific Biosciences of California Inc. (NASDAQ:PACB) have changed 26.59%. Short interest in the company has seen 23.95 million shares shorted with days to cover at 4.15.
Wall Street analysts have a consensus price target for the stock at $12.14, which means that the shares’ value could jump 6.67% from current levels. The projected low price target is $10.00 while the price target rests at a high of $14.00. In that case, then, we find that the current price level is -23.57% off the targeted high while a plunge would see the stock lose 11.74% from current levels.
Pacific Biosciences of California Inc. (PACB) estimates and forecasts
Figures show that Pacific Biosciences of California Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained 153.47% over the past 6 months, with this year growth rate of -53.93%, compared to 1.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -512.50% and -9.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 8.60%.
5 analysts offering their estimates for the company have set an average revenue estimate of $35.4 million for the current quarter. 5 have an estimated revenue figure of $37.62 million for the next quarter concluding in Dec 2022. Year-ago sales stood $34.89 million and $36.02 million respectively for this quarter and the next, and analysts expect sales will grow by 1.50% for the current quarter and 4.40% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -1.30% over the past 5 years. Earnings growth for 2023 is a modest -628.30% while over the next 5 years, the company’s earnings are expected to decrease by -1.00%.
Pacific Biosciences of California Inc. is expected to release its next earnings report between February 13 and February 17 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Pacific Biosciences of California Inc. (NASDAQ:PACB)’s Major holders
Insiders own 8.78% of the company shares, while shares held by institutions stand at 97.77% with a share float percentage of 107.17%. Investors are also buoyed by the number of investors in a company, with Pacific Biosciences of California Inc. having a total of 319 institutions that hold shares in the company. The top two institutional holders are ARK Investment Management, LLC with over 28.69 million shares worth more than $166.56 million. As of Sep 29, 2022, ARK Investment Management, LLC held 12.76% of shares outstanding.
The other major institutional holder is Jackson Square Partners, Llc, with the holding of over 22.76 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $100.61 million and represent 10.12% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and Smallcap World Fund. As of Sep 29, 2022, the former fund manager holds about 6.47% shares in the company for having 14.55 million shares of worth $84.48 million while later fund manager owns 13.25 million shares of worth $58.58 million as of Jun 29, 2022, which makes it owner of about 5.89% of company’s outstanding stock.