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 $176,160 were purchased by Meline David W on Mar 06 ’24. At $4.40 per share, Meline David W acquired 40,000 shares. The insider’s holdings grew to 40,000 shares worth approximately $58400.0 following the completion of this transaction.
Also, HENRY CHRISTIAN O sold 14,177 shares, netting a total of over 69,056 in proceeds. Following the sale of shares at $4.87 each, the insider now holds 2,596,670 shares.
Before that, Van Oene Mark had sold 9,186 shares from its account. In a trade valued at $44,745, the insider traded Pacific Biosciences of California Inc shares for $4.87 each. Upon closing the transaction, the insider’s holdings decreased to 9,186 shares, worth approximately $2.44 million.
As published in a research note from Goldman on April 18, 2024, Pacific Biosciences of California Inc [PACB] has been rated down from a Buy to a Neutral and the price target has been revised to $2.50 from $7. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid December. As of December 14, 2023, Guggenheim has initiated its “Neutral” rating for PACB. Earlier on December 13, 2023, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for PACB stock.
Analyzing PACB Stock Performance
During the last five days, there has been a drop of approximately -56.80%. Over the course of the year, Pacific Biosciences of California Inc shares have dropped approximately -85.12%. Shares of the company reached a 52-week high of $9.9900 on 01/02/24 and a 52-week low of $1.2500 on 04/17/24. A 50-day SMA is recorded $4.3224, while a 200-day SMA reached $8.1031. Nevertheless, trading volume fell to 18.73 million shares from 65.4 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 1.3317, which, if violated, would cause prices to drop to 1.2033. In the upper region, resistance lies at 1.5467. The next price resistance is at 1.6333. RSI (Relative Strength Index) is 18.12 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.5182, which suggests the price will decrease in the coming days. Percent R is at 91.91%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
