Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Pacific Biosciences of California Inc. shares valued at $65,027 were sold by Farmer Michele on May 18. At $12.59 per share, Farmer Michele sold 5,165 shares. The insider’s holdings dropped to 107,577 shares worth approximately $1.29 million following the completion of this transaction.
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Also, Ericson William W. sold 7,541 shares, netting a total of over 67,115 in proceeds. Following the sale of shares at $8.90 each, the insider now holds 18,795 shares.
Before that, HENRY CHRISTIAN O had sold 13,769 shares from its account. In a trade valued at $130,709, the insider traded Pacific Biosciences of California Inc. shares for $9.49 each. Upon closing the transaction, the insider’s holdings decreased to 13,769 shares, worth approximately $14.64 million.
Analyzing PACB Stock Performance
On Thursday, Pacific Biosciences of California Inc. [NASDAQ: PACB] rose 0.25% to $11.97. The stock’s lowest price that day was $11.675, but it reached a high of $12.17 in the same session. During the last five days, there has been a drop of approximately -5.52%. Over the course of the year, Pacific Biosciences of California Inc. shares have jumped approximately 46.33%. Shares of the company reached a 52-week high of $13.43 on 05/22/23 and a 52-week low of $7.77 on 01/04/23. A 50-day SMA is recorded $11.00, while a 200-day SMA reached $9.16. Nevertheless, trading volume fell to 3.76 million shares from 5.66 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 11.71, which, if violated, would cause prices to drop to 11.44. In the upper region, resistance lies at 12.20. The next price resistance is at 12.43. RSI (Relative Strength Index) is 52.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 80.89%, indicating bearish price movement. Stochastics %K at holding 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 steep in short interest on May 14, 2023 dropping by -3.0 million shares to 24.18 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 27.18 million shares. A decline of -12.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.51 of the overall float, the days-to-cover ratio (short ratio) decline to 7.51.
Which companies own the most shares of Pacific Biosciences of California Inc. (PACB)?
According to ARK Investment Management LLC filings, the company currently owns 27,753,679 shares, which is about 11.23% of the total PACB shares outstanding. The investor’s shares have appreciated by 2,061,998 from its previous 13-F filing of 25691681.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $231,734,253. BlackRock Fund Advisors acquire a 7.44% interest valued at $177.69 million while Madrone Advisors LLC 0 stake. In its current portfolio, Point72 Asset Management LP holds 7,289,368 shares valued at $77.27 million.
In terms of Pacific Biosciences of California Inc. share price expectations, FactSet research, analysts set an average price target of $13.80 in the next 12 months, up nearly 13.07% from the previous closing price of $11.94. Analysts anticipate Pacific Biosciences of California Inc. stock to reach $17.00 by 2023, with the lowest price target being $12.00. In spite of this, 10 analysts ranked Pacific Biosciences of California Inc. stock as an Overweight at the end of 2023.