During the recent session, Pacific Biosciences of California Inc (NASDAQ:PACB)’s traded shares were 1.56 million, with the beta value of the company hitting 1.84. At the last check today, the stock’s price was $3.37, reflecting an intraday gain of 1.11% or $0.04. The 52-week high for the PACB share is $14.55, that puts it down -331.75 from that peak though still a striking 4.75% gain since the share price plummeted to a 52-week low of $3.21. The company’s market capitalization is $902.21M, and the average intraday trading volume over the past 10 days was 6.5 million shares, and the average trade volume was 8.86 million shares over the past three months.
Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Pacific Biosciences of California Inc (PACB) registered a 1.11% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.11% in intraday trading to $3.37, hitting a weekly high. The stock’s 5-day price performance is -10.21%, and it has moved by -19.35% in 30 days. Based on these gigs, the overall price performance for the year is -70.67%. The short interest in Pacific Biosciences of California Inc (NASDAQ:PACB) is 45.57 million shares and it means that shorts have 4.67 day(s) to cover.
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 -57.96% during the last six months, with a year-to-date growth rate less than the industry average at 9.01% against 13.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 25.00% this quarter and then jump 7.10% in the quarter after that. In the rating firms’ projections, revenue will increase 19.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $50.39 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $56.81 million by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.76%. While earnings are projected to return 14.46% in 2024, the next five years will return -1.00% per annum.
PACB Dividends
Pacific Biosciences of California Inc is due to release its next quarterly earnings between April 30 and May 06. 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 2.80% of total outstanding shares while institutional holders control 101.76%, with the float percentage being 104.68%. ARK Investment Management, LLC is the largest shareholder of the company, while 378 institutions own stock in it. As of Dec 30, 2023, the company held over 34.5 million shares (or 12.88% of all shares), a total value of $115.42 million in shares.
The next largest institutional holding, with 26.79 million shares, is of Vanguard Group Inc’s that is approximately 10.00% of outstanding shares. At the market price on Dec 30, 2023, these shares were valued at $89.61 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 Feb 28, 2024 indicates that ARK ETF Tr-ARK Innovation ETF owns about 19.0 million shares. This amounts to just over 7.09 percent of the company’s overall shares, with a $63.56 million market value. The same data shows that the other fund manager holds slightly less at 11.22 million, or about 4.19% of the stock, which is worth about $37.52 million.
