In the last trading session, 4.32 million Pacific Biosciences of California Inc (NASDAQ:PACB) shares changed hands as the company’s beta touched 1.83. With the company’s per share price at $3.61 changed hands at -$0.07 or -1.90% during last session, the market valuation stood at $967.30M. PACB’s last price was a discount, traded about -303.05% off its 52-week high of $14.55. The share price had its 52-week low at $3.54, which suggests the last value was 1.94% up since then. When we look at Pacific Biosciences of California Inc’s average trading volume, we note the 10-day average is 8.12 million shares, with the 3-month average coming to 8.59 million.
Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Instantly PACB was in red as seen at the end of in last trading. With action -1.63%, the performance over the past five days has been red. The drop to weekly highs of 4.10 subtracted -1.90% to the stock’s daily price. The company’s shares are showing year-to-date downside of -63.20%, with the 5-day performance at -1.63% in the red. However, in the 30-day time frame, Pacific Biosciences of California Inc (NASDAQ:PACB) is -29.35% down. Looking at the short shares, we see there were 43.54 million shares sold at short interest cover period of 5.54 days.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Data shows that the Pacific Biosciences of California Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -59.62% over the past 6 months, a 9.01% in annual growth rate that is considerably lower than the industry average of 12.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Pacific Biosciences of California Inc will rise 25.00%, while the growth in revenue is estimated to hit 7.10% for the next quarter. Year-over-year growth is forecast to reach 19.20% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $50.26 million. 11 analysts are of the opinion that Pacific Biosciences of California Inc’s revenue for the quarter ending Jun 2024 will be $57.03 million. The company’s revenue for the corresponding quarters a year ago was $34.38 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 46.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.76%. The 2024 estimates are for Pacific Biosciences of California Inc earnings to increase by 14.52%, 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 April 30 and May 06.
Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.80% of Pacific Biosciences of California Inc shares while 101.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.74%. There are 101.81% 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 11.90% of the shares, roughly 29.82 million PACB shares worth $249.02 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.23% or 23.13 million shares worth $307.59 million as of Jun 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 $134.09 million under it, the former controlled 6.41% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held about 4.61% of the shares, roughly 11.56 million shares worth around $96.5 million.
