In today’s recent session, 2.23 million shares of the Pacific Biosciences of California Inc (NASDAQ:PACB) have been traded, and its beta is 1.95. Most recently the company’s share price was $1.80, and it changed around -$0.06 or -2.96% from the last close, which brings the market valuation of the company to $476.40M. PACB at last check was trading at a discount to its 52-week high of $10.39, offering almost -477.22% off that amount. The share price’s 52-week low was $1.16, which indicates that the recent value has risen by an impressive 35.56% since then. We note from Pacific Biosciences of California Inc’s average daily trading volume that its 10-day average is 7.32 million shares, with the 3-month average coming to 9.39 million.
Pacific Biosciences of California Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.19. If we narrow it down even further, the data shows that 0 out of 15 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 8 recommended PACB as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Pacific Biosciences of California Inc is expected to report earnings per share of -0.18 for the current quarter.
Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Instantly PACB has been showing red trend so far today with a performance of -2.96% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.0399 on recent trading dayincreased the stock’s daily price by 11.76%. The company’s shares are currently down -81.60% year-to-date, but still down -8.38% over the last five days. On the other hand, Pacific Biosciences of California Inc (NASDAQ:PACB) is 2.56% up in the 30-day period. We can see from the shorts that 53.06 million shares have been sold at a short interest cover period of 5.08 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 40.0% from its current value. Analyst projections state that PACB is forecast to be at a low of $2 and a high of $4.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Pacific Biosciences of California Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 50.42 percent over the past six months and at a 18.92% annual growth rate that is well above the industry average of 15.40%. The year-over-year growth rate is expected to be -22.46%, down from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of 40.66M in revenue for the current quarter. 10 analysts expect Pacific Biosciences of California Inc to make 42.54M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 58.36M and 38.81M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -30.33%. Forecasts for the next quarter put sales growth at 9.61%.
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 -12.49% 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 in January.
Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 9.32% of Pacific Biosciences of California Inc shares, and 84.53% of them are in the hands of institutional investors. The stock currently has a share float of 93.22%. Pacific Biosciences of California Inc stock is held by 319.0 institutions, with ARK INVESTMENT MANAGEMENT LLC being the largest institutional investor. By 2024-06-30, it held 12.3202% of the shares, which is about 33.21 million shares worth $45.5 million.
VANGUARD GROUP INC, with 9.6443% or 26.0 million shares worth $35.62 million as of 2024-06-30, 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 Oct 31, 2024. The former held 18.94 shares worth $34.28 million, making up 6.91% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held roughly 12.39 shares worth around $22.43 million, which represents about 4.52% of the total shares outstanding.
