PACB’s short interest shows a sharp rise on Aug 14, 2023

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 $274,844 were sold by Eidel Jeff on Aug 17. At $10.60 per share, Eidel Jeff sold 25,936 shares. The insider’s holdings dropped to 444,666 shares worth approximately $5.02 million following the completion of this transaction.

Also, HENRY CHRISTIAN O sold 10,000 shares, netting a total of over 105,000 in proceeds. Following the sale of shares at $10.50 each, the insider now holds 1,212,939 shares.

Before that, Van Oene Mark had sold 26,102 shares from its account. In a trade valued at $287,122, the insider traded Pacific Biosciences of California Inc. shares for $11.00 each. Upon closing the transaction, the insider’s holdings decreased to 26,102 shares, worth approximately $10.6 million.

Analyzing PACB Stock Performance

On Thursday, Pacific Biosciences of California Inc. [NASDAQ: PACB] rose 0.62% to $11.28. The stock’s lowest price that day was $11.0801, but it reached a high of $11.48 in the same session. During the last five days, there has been a surge of approximately 12.13%. Over the course of the year, Pacific Biosciences of California Inc. shares have jumped approximately 37.90%. Shares of the company reached a 52-week high of $14.55 on 07/18/23 and a 52-week low of $7.77 on 01/04/23. A 50-day SMA is recorded $12.25, while a 200-day SMA reached $11.05. Nevertheless, trading volume fell to 2.44 million shares from 3.34 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 11.08, which, if violated, would cause prices to drop to 10.88. In the upper region, resistance lies at 11.48. The next price resistance is at 11.68. RSI (Relative Strength Index) is 49.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.45, which suggests the price will decrease in the coming days. Percent R is at 21.15%, indicating bullish 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 rise in short interest on Aug 14, 2023 jumping by 0.68 million shares to 31.39 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 30.71 million shares. A jump of 2.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.39 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.39.

Which companies own the most shares of Pacific Biosciences of California Inc. (PACB)?

According to ARK Investment Management LLC filings, the company currently owns 26,634,620 shares, which is about 10.66% of the total PACB shares outstanding. The investor’s shares have plunged by -1,119,059 from its previous 13-F filing of 27753679.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $297,874,430. BlackRock Fund Advisors acquire a 2.52% interest valued at $227.02 million while Madrone Advisors LLC 0 stake. In its current portfolio, Farallon Capital Management LLC holds 8,338,120 shares valued at $110.15 million.

In terms of Pacific Biosciences of California Inc. share price expectations, FactSet research, analysts set an average price target of $15.17 in the next 12 months, up nearly 33.81% from the previous closing price of $11.21. Analysts anticipate Pacific Biosciences of California Inc. stock to reach $19.00 by 2023, with the lowest price target being $13.00. In spite of this, 12 analysts ranked Pacific Biosciences of California Inc. stock as an Overweight at the end of 2023.