Pacific Biosciences of California Inc. [PACB] -2.54 went down: why it’s important


Pacific Biosciences of California Inc. [NASDAQ: PACB] The stock turned downtrend that fell more than -2.54% on Wednesday, taking the price from a one-week low of -5.57%. The company reported on November 11, 2022 that PacBio will present at upcoming investor conferences.


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PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced that it will participate in the following upcoming investor conferences: .

Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum on Thursday, November 17, 2022 at 10:00 am in New York.

In last 12 months, PACB stock declined -54.74%. California Inc’s one-year Pacific Biosciences stock forecast points to a potential upside of 16.06. The Average Equity Rating for PACB stock is currently 2.30, which is trading near to a bullish pattern in the stock market.

The market cap for the stock reached $2.34 billion, with 225.12 million shares outstanding and 206.38 million shares in the current float. Compared to the average trading volume of 6.12M shares, PACB stock reached a trading volume of 3121313 shares in the most recent trading day, which is why market watchdogs consider the stock as active.

Guru’s Opinion on Pacific Biosciences of California Inc. [PACB],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on the target price for PACB shares is $12.33 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on PACB stock is a recommendation at 2.30. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Cantor Fitzgerald has a Hold on shares of Pacific Biosciences of California Inc., keeping his view on the stock, in line with his previous recommendation on January 21, 2022. neutral. The new note on the price target was issued on January 06, 2022, California Inc. represents the official price target for Pacific Biosciences of the stock. Earlier, the target price was raised once again to $30, while analysts at Cowen maintained a Market Perform rating on PACB stock.

Pacific Biosciences of California Inc. The Average True Range (ATR) for the PACB stock is set at 0.98, with the Price to Sales ratio for the PACB stock at 17.11 over the trailing 12 months period. The Price to Book ratio for the previous quarter was 3.72, the Price to Cash per share for the same quarter was set at 3.68.

Pacb Stock Performance Analysis:

Pacific Biosciences of California Inc. [PACB] It fell into the red zone at the end of last week, fell into a negative trend and fell -5.57. With this latest performance, PACB shares are up 25.76% in the last four-week period, as well as down 92.74% in the last 6 months — not to mention a -54.74% drop in the past year of trading.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for the PACB stock for the past two-week period is set at 61.10, with the RSI for the last one trading hit 59.42, and the three-week RSI for Pacific Biosciences of California Inc. is set at 61.02. [PACB], The current moving average of this stock for last 50 days of trading is 7.57, while it was recorded at 10.52 for last one week and 7.18 for last 200 days.

Insight Fundamentals in Pacific Biosciences of California Inc.:

Pacific Biosciences of California Inc. Equally intriguing is its liquidity data, with a quick ratio of 10.70 and a current ratio set at 11.20.

Pacb Stock EPS

The progress of the company can be seen through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting 5-year EPS growth rate for PACB. When it comes to quoted value, analyst California Inc. K is expecting a 5-year EPS growth rate of -1.00% for Pacific Biosciences.

Pacific Biosciences of California Inc. [PACB] internal status statement

Institutional investors currently hold approximately $2,213 million, or 89.00% of PACB stock, in hands. The top three institutional holders of PACB stock are: ARK Investment Management LLC with ownership of 28,692,494, which is approximately 2.307% of the company’s market cap and approximately 0.90% of total institutional ownership; JACKSON SQUARE PARTNERS, LLC, holds 20,258,099 shares of stock in PACB stock shares with an estimated value of $209.67 million; and Vanguard Group Inc., with $203.5 million in PACB stock currently holding approximately -7.435% of the company’s market capitalization.

107 institutional holders increased their positions in Pacific Biosciences of California Inc. [NASDAQ:PACB] By approximately 27,554,235 shares. Additionally, 111 investors reduced positions totaling approximately 47,313,327 shares, while 51 investors held positions totaling 138,971,132 shares. As per the latest SEC report filing, the mentioned changes put the institutional holding at 213,838,694 shares. There were 46 new institutional investments in PACB stock for a total of 18,298,543 shares, while 41 institutional investors sold 7,392,201 shares during the same period.

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