Analyzing Pacific Biosciences of California Inc (NASDAQ: PACB) Stock’s Performance and Trends for Investment

In the latest trading session, 1.17 million Pacific Biosciences of California Inc (NASDAQ:PACB) shares changed hands as the company’s beta touched 1.76. With the company’s most recent per share price at $8.30 changed hands at -$0.1 or -1.25% at last look, the market valuation stands at $2.22B. PACB’s current price is a discount, trading about -75.3% off its 52-week high of $14.55. The share price had its 52-week low at $5.74, which suggests the last value was 30.84% up since then. When we look at Pacific Biosciences of California Inc’s average trading volume, we note the 10-day average is 5.17 million shares, with the 3-month average coming to 4.60 million.

Pacific Biosciences of California Inc (NASDAQ:PACB) trade information

Instantly PACB was in red as seen in intraday trades today. With action 28.80%, the performance over the past five days has been green. The drop to weekly highs of 8.54 on Friday, 11/17/23 subtracted -1.25% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.41%, with the 5-day performance at 28.80% in the green. However, in the 30-day time frame, Pacific Biosciences of California Inc (NASDAQ:PACB) is 12.25% up. Looking at the short shares, we see there were 35.12 million shares sold at short interest cover period of 7.13 days.

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Pacific Biosciences of California Inc (PACB) estimates and forecasts

Data shows that the Pacific Biosciences of California Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -36.49% over the past 6 months, a 14.49% in annual growth rate that is considerably higher than the industry average of 10.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Pacific Biosciences of California Inc will rise 24.30%, while the growth in revenue is estimated to hit 25.00% for the next quarter. Year-over-year growth is forecast to reach 54.30% up from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $55.81 million. 8 analysts are of the opinion that Pacific Biosciences of California Inc’s revenue for the quarter ending Mar 2024 will be $54.77 million. The company’s revenue for the corresponding quarters a year ago was $27.35 million and $34.38 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 104.00%. The estimates for the next quarter sales put growth at 59.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.97%. The 2023 estimates are for Pacific Biosciences of California Inc earnings to increase by 16.09%, but the outlook for the next 5-year period is at -1.00% per year.

PACB Dividends

Pacific Biosciences of California Inc is expected to release its next quarterly earnings report between February 14 and February 19.

Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.72% of Pacific Biosciences of California Inc shares while 96.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 98.68%. There are 96.98% institutions holding the Pacific Biosciences of California Inc stock share, with ARK Investment Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 11.15% of the shares, roughly 29.82 million PACB shares worth $247.68 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.70% or 23.27 million shares worth $193.3 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. With 16.06 million shares estimated at $133.36 million under it, the former controlled 6.00% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held about 4.32% of the shares, roughly 11.56 million shares worth around $95.98 million.

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