Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pacific Biosciences of California Inc. shares valued at $15,715 were sold by HENRY CHRISTIAN O on Feb 17. At $10.27 per share, HENRY CHRISTIAN O sold 1,530 shares. The insider’s holdings dropped to 642,021 shares worth approximately $6.05 million following the completion of this transaction.
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Also, Kim Susan G. sold 907 shares, netting a total of over 9,316 in proceeds. Following the sale of shares at $10.27 each, the insider now holds 162,581 shares.
Before that, Van Oene Mark had sold 26,722 shares from its account. In a trade valued at $254,768, the insider traded Pacific Biosciences of California Inc. shares for $9.53 each. Upon closing the transaction, the insider’s holdings decreased to 26,722 shares, worth approximately $6.04 million.
As published in their initiating research note from UBS on February 02, 2023, Pacific Biosciences of California Inc. [PACB] has been a Neutral and the price target has been revised to $13. This represents a 27.46% premium over Thursday’s closing price. Analysts at Cantor Fitzgerald downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of January 05, 2023, Scotiabank has initiated its “Sector outperform” rating for PACB.
Analyzing PACB Stock Performance
On Thursday, Pacific Biosciences of California Inc. [NASDAQ: PACB] rose 7.53% to $9.43. The stock’s lowest price that day was $8.52, but it reached a high of $9.58 in the same session. During the last five days, there has been a surge of approximately 1.51%. Over the course of the year, Pacific Biosciences of California Inc. shares have jumped approximately 15.28%. Shares of the company reached a 52-week high of $12.54 on 01/18/23 and a 52-week low of $7.77 on 01/04/23. A 50-day SMA is recorded $10.02, while a 200-day SMA reached $7.48. Nevertheless, trading volume fell to 3.83 million shares from 2.72 million shares the previous day.
Support And Resistance Levels for Pacific Biosciences of California Inc. (PACB)
According to the 24-hour chart, there is a support level at 8.77, which, if violated, would cause prices to drop to 8.12. In the upper region, resistance lies at 9.83. The next price resistance is at 10.24. RSI (Relative Strength Index) is 44.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.60, which suggests the price will decrease in the coming days. Percent R is at 65.92%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Pacific Biosciences of California Inc. subject to short interest?
Stocks of Pacific Biosciences of California Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 1.38 million shares to 24.2 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 22.82 million shares. A jump of 5.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.37 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.37.
Which companies own the most shares of Pacific Biosciences of California Inc. (PACB)?
According to ARK Investment Management LLC filings, the company currently owns 25,691,681 shares, which is about 10.55% of the total PACB shares outstanding. The investor’s shares have plunged by -3,000,813 from its previous 13-F filing of 28692494.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $220,807,922. BlackRock Fund Advisors acquire a 0.57% interest valued at $173.03 million while Jackson Square Partners LLC sold a -5,252,922 stake. A total of -225,769 shares of Pacific Biosciences of California Inc. were sold by Nikko Asset Management Americas, during the quarter, and 1,039,374 were bought by Bellevue Asset Management AG. In its current portfolio, Capital Research & Management Co holds 6,099,681 shares valued at $67.65 million.
In terms of Pacific Biosciences of California Inc. share price expectations, FactSet research, analysts set an average price target of $12.13 in the next 12 months, up nearly 42.53% from the previous closing price of $8.77. Analysts anticipate Pacific Biosciences of California Inc. stock to reach $14.00 by 2023, with the lowest price target being $10.00. In spite of this, 8 analysts ranked Pacific Biosciences of California Inc. stock as an Overweight at the end of 2023. On January 06, 2022, Piper Sandler assigned a price target of “a Neutral” to the stock and resumed coverage with a $20.