Michael Hunkapiller Sells 38,381 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) Director Michael Hunkapiller sold 38,381 shares of the company’s stock in a transaction on Wednesday, November 18th. The stock was sold at an average price of $15.71, for a total transaction of $602,965.51. Following the sale, the director now directly owns 898,215 shares of the company’s stock, valued at approximately $14,110,957.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Michael Hunkapiller also recently made the following trade(s):

  • On Thursday, November 12th, Michael Hunkapiller sold 200,000 shares of Pacific Biosciences of California stock. The shares were sold at an average price of $16.73, for a total transaction of $3,346,000.00.
  • On Tuesday, November 10th, Michael Hunkapiller sold 1,304,348 shares of Pacific Biosciences of California stock. The shares were sold at an average price of $14.25, for a total transaction of $18,586,959.00.
  • On Monday, August 24th, Michael Hunkapiller sold 259,164 shares of Pacific Biosciences of California stock. The shares were sold at an average price of $6.63, for a total transaction of $1,718,257.32.

Shares of PACB opened at $15.08 on Friday. The stock has a market capitalization of $2.72 billion, a PE ratio of -45.70 and a beta of 1.70. Pacific Biosciences of California, Inc. has a 1 year low of $2.20 and a 1 year high of $17.14. The company’s 50-day simple moving average is $13.93 and its 200-day simple moving average is $7.14.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Saturday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). Pacific Biosciences of California had a negative return on equity of 150.00% and a negative net margin of 61.85%. The business had revenue of $19.08 million for the quarter, compared to analyst estimates of $20.40 million. On average, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.38 EPS for the current year.

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of Pacific Biosciences of California from $11.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, October 13th. BidaskClub cut shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 5th. Piper Sandler cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. raised shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a research report on Friday, October 2nd. Finally, Morgan Stanley upped their target price on shares of Pacific Biosciences of California from $7.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Pacific Biosciences of California currently has an average rating of “Buy” and a consensus price target of $11.17.

Hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Pacific Biosciences of California during the third quarter worth approximately $54,000. Clear Harbor Asset Management LLC purchased a new position in shares of Pacific Biosciences of California during the third quarter worth approximately $54,000. Freestone Capital Holdings LLC purchased a new position in shares of Pacific Biosciences of California during the third quarter worth approximately $76,000. Russell Investments Group Ltd. purchased a new position in shares of Pacific Biosciences of California during the second quarter worth approximately $27,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Pacific Biosciences of California by 256.7% during the third quarter. Nisa Investment Advisors LLC now owns 8,685 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 6,250 shares during the last quarter. Hedge funds and other institutional investors own 72.46% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. Its single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. The company also provides consumable products, including SMRT cells, as well as various reagent kits designed for specific workflow such as template preparation to convert DNA into SMRTbell double-stranded DNA library formats including molecular biology reagents, such as ligase, buffers and exonucleases.

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Insider Buying and Selling by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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