Pacific Biosciences of California (NASDAQ:PACB) Short Interest Up 7.5% in December

Pacific Biosciences of California (NASDAQ:PACB) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 20,380,000 shares, an increase of 7.5% from the December 15th total of 18,960,000 shares. Currently, 14.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,100,000 shares, the days-to-cover ratio is currently 9.7 days.

Shares of NASDAQ:PACB traded down $0.09 on Friday, reaching $4.95. 19,438 shares of the company were exchanged, compared to its average volume of 4,075,582. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84. Pacific Biosciences of California has a 1-year low of $4.37 and a 1-year high of $7.50. The firm has a market cap of $779.36 million, a price-to-earnings ratio of -6.47 and a beta of 1.70. The company has a 50-day moving average of $5.15 and a 200-day moving average of $5.32.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 136.85% and a negative net margin of 139.22%. The company had revenue of $21.92 million for the quarter, compared to analyst estimates of $28.02 million. As a group, analysts forecast that Pacific Biosciences of California will post -0.71 earnings per share for the current year.

A number of equities analysts have commented on PACB shares. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a research report on Tuesday, January 7th. ValuEngine upgraded shares of Pacific Biosciences of California from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Friday, January 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $7.00 price target on shares of Pacific Biosciences of California in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.25.

Several large investors have recently bought and sold shares of PACB. Millennium Management LLC grew its stake in shares of Pacific Biosciences of California by 32,667.2% during the 3rd quarter. Millennium Management LLC now owns 1,888,900 shares of the biotechnology company’s stock worth $9,746,000 after purchasing an additional 1,894,700 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of Pacific Biosciences of California by 4,581.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,483,872 shares of the biotechnology company’s stock worth $7,657,000 after purchasing an additional 1,452,172 shares during the period. ARP Americas LP grew its stake in shares of Pacific Biosciences of California by 22.6% during the 3rd quarter. ARP Americas LP now owns 5,372,620 shares of the biotechnology company’s stock worth $27,723,000 after purchasing an additional 989,998 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Pacific Biosciences of California during the 3rd quarter worth $5,062,000. Finally, Man Group plc grew its stake in shares of Pacific Biosciences of California by 123.2% during the 2nd quarter. Man Group plc now owns 1,538,409 shares of the biotechnology company’s stock worth $9,308,000 after purchasing an additional 849,048 shares during the period. 71.38% of the stock is currently owned by institutional investors and hedge funds.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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