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Recent Insider Activity Suggests Potential Gains for Pacific Biosciences of California Inc (PACB)

Pacific Biosciences of California Inc’s recently made public that its insider Farmer Michele unloaded Company’s shares for reported $10708.0 on May 20 ’24. In the deal valued at $2.03 per share,5,275 shares were sold. As a result of this transaction, Farmer Michele now holds 211,941 shares worth roughly $0.28 million.

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Then, Meline David W bought 40,000 shares, generating $176,160 in total proceeds. Upon buying the shares at $4.40, the Director now owns 40,000 shares.

Before that, HENRY CHRISTIAN O sold 14,177 shares. Pacific Biosciences of California Inc shares valued at $69,056 were divested by the insider at a price of $4.87 per share. As a result of the transaction, HENRY CHRISTIAN O now holds 2,596,670 shares, worth roughly $3.4 million.

A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late April from “an Overweight” to “a Neutral”. Goldman also remained covering PACB and has decreased its forecast on April 18, 2024 with a “Neutral” recommendation from previously “Buy” rating. Stephens started covering the stock on December 14, 2023. It rated PACB as “an Overweight”.

Price Performance Review of PACB

On Tuesday, Pacific Biosciences of California Inc [NASDAQ:PACB] saw its stock fall -2.24% to $1.31. Over the last five days, the stock has gained 9.17%. Pacific Biosciences of California Inc shares have fallen nearly -86.65% since the year began. Nevertheless, the stocks have fallen -89.39% over the past one year. While a 52-week high of $14.55 was reached on 01/02/24, a 52-week low of $1.16 was recorded on 07/02/24. SMA at 50 days reached $1.7296, while 200 days put it at $5.3351. A total of 5.46 million shares were traded, compared to the trading of 5.62 million shares in the previous session.

Levels Of Support And Resistance For PACB Stock

The 24-hour chart illustrates a support level at 1.2683, which if violated will result in even more drops to 1.2267. On the upside, there is a resistance level at 1.3633. A further resistance level may holdings at 1.4167. The Relative Strength Index (RSI) on the 14-day chart is 35.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0629, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.22%. Stochastics%K at 26.96% indicates the stock is a holding.

The most recent change occurred on December 14, 2023 when Guggenheim began covering the stock and recommended ‘”a Neutral”‘ rating.

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