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JP Morgan analysts downgrades a Neutral rating for Pacific Biosciences of California Inc (PACB)

CHWY Stock

Pacific Biosciences of California Inc’s filing revealed that its Director Meline David W acquired Company’s shares for reported $0.18 million on Mar 06 ’24. In the deal valued at $4.40 per share,40,000 shares were bought. As a result of this transaction, Meline David W now holds 40,000 shares worth roughly $64000.0.

Then, HENRY CHRISTIAN O sold 14,177 shares, generating $69,056 in total proceeds. Upon selling the shares at $4.87, the insider now owns 2,596,670 shares.

Before that, Van Oene Mark sold 9,186 shares. Pacific Biosciences of California Inc shares valued at $44,745 were divested by the insider at a price of $4.87 per share. As a result of the transaction, Van Oene Mark now holds 1,668,826 shares, worth roughly $2.67 million.

JP Morgan downgraded its Pacific Biosciences of California Inc [PACB] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in mid April from “a Buy” to “a Neutral”. Stephens began covering PACB with “an Overweight” recommendation on December 14, 2023. Guggenheim started covering the stock on December 14, 2023. It rated PACB as “a Neutral”.

Price Performance Review of PACB

On Monday, Pacific Biosciences of California Inc [NASDAQ:PACB] saw its stock jump 8.84% to $1.60. Over the last five days, the stock has gained 2.56%. Pacific Biosciences of California Inc shares have fallen nearly -83.69% since the year began. Nevertheless, the stocks have fallen -83.97% over the past one year. While a 52-week high of $14.55 was reached on 01/02/24, a 52-week low of $1.25 was recorded on 04/17/24. SMA at 50 days reached $3.6208, while 200 days put it at $7.6945. A total of 8.91 million shares were traded, compared to the trading of 11.06 million shares in the previous session.

Levels Of Support And Resistance For PACB Stock

The 24-hour chart illustrates a support level at 1.4800, which if violated will result in even more drops to 1.3600. On the upside, there is a resistance level at 1.7100. A further resistance level may holdings at 1.8200. The Relative Strength Index (RSI) on the 14-day chart is 27.27, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.4713, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.44%. Stochastics %K at 9.95% indicates the stock is a buying.

The most recent change occurred on December 13, 2023 when Wolfe Research began covering the stock and recommended ‘”a Peer perform”‘ rating .

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