Pacific Biosciences of California Inc (NASDAQ: PACB): Stock Performance & Trend Analysis

In the last trading session, 7.97 million shares of the Pacific Biosciences of California Inc (NASDAQ:PACB) were traded, and its beta was 1.83. Most recently the company’s share price was $3.41, and it changed around -$0.24 or -6.58% from the last close, which brings the market valuation of the company to $913.71M. PACB currently trades at a discount to its 52-week high of $14.55, offering almost -326.69% off that amount. The share price’s 52-week low was $3.45, which indicates that the current value has fallen by an impressive -1.17% since then. We note from Pacific Biosciences of California Inc’s average daily trading volume that its 10-day average is 6.38 million shares, with the 3-month average coming to 8.77 million.

Pacific Biosciences of California Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.79. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 4 recommended PACB as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Pacific Biosciences of California Inc is expected to report earnings per share of -$0.27 for the current quarter.

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

Instantly PACB has showed a red trend with a performance of -6.58% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -65.24% year-to-date, but still down -5.54% over the last five days. On the other hand, Pacific Biosciences of California Inc (NASDAQ:PACB) is -34.30% down in the 30-day period. We can see from the shorts that 45.57 million shares have been sold at a short interest cover period of 4.67 day(s).

The consensus price target as assigned by Wall Street analysts is $10.75, which translates to bulls needing to increase their stock price by 68.28% from its current value. Analyst projections state that PACB is forecast to be at a low of $7.5 and a high of $14.

Pacific Biosciences of California Inc (PACB) estimates and forecasts

Pacific Biosciences of California Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -59.16 percent over the past six months and at a 9.01% annual growth rate that is well below the industry average of 13.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 25.00% in revenue this quarter, and will report an increase of 7.10% in the next quarter. The year-over-year growth rate is expected to be 19.10%, up from the previous year.

Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $50.39 million in revenue for the current quarter. 10 analysts expect Pacific Biosciences of California Inc to make $56.81 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 46.60%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.76%. Pacific Biosciences of California Inc earnings are expected to increase by 14.46% in 2024, but the outlook is negative -1.00% per year for the next five years.

PACB Dividends

Pacific Biosciences of California Inc’s next quarterly earnings report is expected to be released around April 30 and May 06.

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

Upon looking at major shareholders, it appears that insiders hold 2.80% of Pacific Biosciences of California Inc shares, and 101.76% of them are in the hands of institutional investors. The stock currently has a share float of 104.68%. Pacific Biosciences of California Inc stock is held by 378 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Sep 29, 2023, it held 11.90% of the shares, which is about 29.82 million shares worth $249.02 million.

Vanguard Group Inc, with 9.23% or 23.13 million shares worth $307.59 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF were the top two Mutual Funds as of Sep 29, 2023. The former held 16.06 million shares worth $134.09 million, making up 6.41% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held roughly 11.56 million shares worth around $96.5 million, which represents about 4.61% of the total shares outstanding.