Pacific Biosciences of California Inc (NASDAQ:PACB) has a beta value of 2.05 and has seen 24.35 million shares traded in the last trading session. The company, currently valued at $539.61M, closed the last trade at $1.98 per share which meant it gained $0.43 on the day or 27.74% during that session. The PACB stock price is -437.88% off its 52-week high price of $10.65 and 41.41% above the 52-week low of $1.16. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.65 million shares traded. The 3-month trading volume is 9.09 million shares.
The consensus among analysts is that Pacific Biosciences of California Inc (PACB) is Buy stock at the moment, with a recommendation rating of 2.13. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 11 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.22.
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Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Sporting 27.74% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the PACB stock price touched $1.98 or saw a rise of 3.41%. Year-to-date, Pacific Biosciences of California Inc shares have moved -79.82%, while the 5-day performance has seen it change 15.12%. Over the past 30 days, the shares of Pacific Biosciences of California Inc (NASDAQ:PACB) have changed 10.00%. Short interest in the company has seen 51.64 million shares shorted with days to cover at 5.7.
Wall Street analysts have a consensus price target for the stock at $3, which means that the shares’ value could jump 34.0% from current levels. The projected low price target is $2.0 while the price target rests at a high of $4.0. In that case, then, we find that the current price level is -102.02% off the targeted high while a plunge would see the stock gain -1.01% from current levels.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Figures show that Pacific Biosciences of California Inc shares have outperformed across the wider relevant industry. The company’s shares have lost -37.54% over the past 6 months, with this year growth rate of 14.41%, compared to 13.70% for the industry. Revenue growth from the last financial year stood is estimated to be -16.60%.
13 analysts offering their estimates for the company have set an average revenue estimate of 41.96M for the current quarter. 13 have an estimated revenue figure of 50.34M for the next ending quarter. Year-ago sales stood 55.69M and 58.36M respectively for this quarter and the next, and analysts expect sales will shrink by -24.70% for the current quarter and -16.60% 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 -9.76% over the past 5 years. Earnings growth for 2024 is a modest 8.06% while over the next 5 years, the company’s earnings are expected to decrease by -1.00%.
PACB Dividends
Pacific Biosciences of California Inc is expected to release its next earnings report in November 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 1.87% of the company shares, while shares held by institutions stand at 85.83% with a share float percentage of 87.46%. Investors are also buoyed by the number of investors in a company, with Pacific Biosciences of California Inc having a total of 318.0 institutions that hold shares in the company. The top two institutional holders are ARK INVESTMENT MANAGEMENT LLC with over 33.21 million shares worth more than $45.5 million. As of 2024-06-30, ARK INVESTMENT MANAGEMENT LLC held 12.3202% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 26.0 million shares as of 2024-06-30. The firm’s total holdings are worth over $35.62 million and represent 9.6443% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF . As of Sep 30, 2024 , the former fund manager holds about 6.92% shares in the company for having 18.86 shares of worth $37.34 million while later fund manager owns 12.54 shares of worth $24.82 million as of Sep 30, 2024 , which makes it owner of about 4.60% of company’s outstanding stock.
