The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Pacific Biosciences of California Inc shares valued at $10,708 were sold by Farmer Michele on May 20 ’24. At $2.03 per share, Farmer Michele sold 5,275 shares. The insider’s holdings dropped to 211,941 shares worth approximately $0.29 million following the completion of this transaction.
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Also, Meline David W purchased 40,000 shares, netting a total of over 176,160 in proceeds. Following the buying of shares at $4.40 each, the insider now holds 40,000 shares.
Before that, HENRY CHRISTIAN O had sold 14,177 shares from its account. In a trade valued at $69,056, the insider traded Pacific Biosciences of California Inc shares for $4.87 each. Upon closing the transaction, the insider’s holdings decreased to 14,177 shares, worth approximately $3.53 million.
Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late April. As of April 18, 2024, Goldman has decreased its “Buy” rating to a “Neutral” for PACB. Earlier on December 14, 2023, Stephens initiated its rating. Their recommendation was “an Overweight” for PACB stock.
Analyzing PACB Stock Performance
During the last five days, there has been a drop of approximately -13.38%. Over the course of the year, Pacific Biosciences of California Inc shares have dropped approximately -86.14%. 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 $1.7510, while a 200-day SMA reached $5.6518. Nevertheless, trading volume fell to 8.95 million shares from 4.42 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 1.3133, which, if violated, would cause prices to drop to 1.2667. In the upper region, resistance lies at 1.3933. The next price resistance is at 1.4267. RSI (Relative Strength Index) is 31.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.2876, which suggests the price will decrease in the coming days. Percent R is at 92.94%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
