The stock of Pacific Biosciences of California (NASDAQ:PACB) hit a new 52-week low and has $6.34 target or 6.00% below today’s $6.74 share price. The 6 months bearish chart indicates high risk for the $613.59 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $6.34 price target is reached, the company will be worth $36.82M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.46 million shares traded hands or 395.14% up from the average. Pacific Biosciences of California (NASDAQ:PACB) has declined 11.44% since April 1, 2016 and is downtrending. It has underperformed by 12.66% the S&P500.
Pacific Biosciences of California (NASDAQ:PACB) Ratings Coverage
Out of 5 analysts covering Pacific Biosciences of California (NASDAQ:PACB), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Pacific Biosciences of California has been the topic of 10 analyst reports since August 27, 2015 according to StockzIntelligence Inc. Maxim Group maintained it with “Buy” rating and $9 target price in Thursday, August 27 report. The company was initiated on Monday, June 27 by CL King. The firm earned “Overweight” rating on Friday, October 23 by Piper Jaffray. The company was maintained on Monday, January 4 by Cantor Fitzgerald. M Partners initiated Pacific Biosciences of California (NASDAQ:PACB) on Friday, April 15 with “Neutral” rating. First Analysis initiated the stock with “Overweight” rating in Friday, April 15 report. The rating was initiated by Cantor Fitzgerald with “Buy” on Thursday, August 27. The company was downgraded on Thursday, February 4 by Piper Jaffray.
According to Zacks Investment Research, “Pacific Biosciences of California, Inc. is engaged in the development, manufacture and commercialization of its single molecule, real-time, or SMRT technology-an integrated platform for genetic analysis. The SMRT technology uses the natural processing power of enzymes, combined with specially designed reagents and detection systems, to record individual biochemical events as they occur. The Company’s technology platform comprises of the SMRT cells, Phospholinked nucleotides and the PacBio RS (an instrument that conducts, monitors and analyzes single molecule biochemical reactions in real time). Its product will find its application in both research institutions and commercial companies, including genome centers, government and academic institutions, genomic service providers, pharmaceutical companies and agriculture companies. Pacific Biosciences of California, Inc. is headquartered in Menlo Park, California.”
Insitutional Activity: The institutional sentiment increased to 2.12 in 2016 Q2. Its up 0.36, from 1.76 in 2016Q1. The ratio improved, as 15 funds sold all Pacific Biosciences of California shares owned while 26 reduced positions. 25 funds bought stakes while 62 increased positions. They now own 60.55 million shares or 5.09% more from 57.62 million shares in 2016Q1.
Concert Wealth Mgmt has 14,500 shares for 0.01% of their US portfolio. Macquarie Grp reported 316,825 shares or 0% of all its holdings. Commerzbank Aktiengesellschaft Fi, a Germany-based fund reported 208,253 shares. California State Teachers Retirement Systems, a California-based fund reported 159,794 shares. Jpmorgan Chase & Company, a New York-based fund reported 54,910 shares. Maverick Ltd holds 0.75% of its portfolio in Pacific Biosciences of California (NASDAQ:PACB) for 7.82M shares. Smithfield Tru Company last reported 0.01% of its portfolio in the stock. Invesco Ltd last reported 0% of its portfolio in the stock. Ing Groep Nv has 0.01% invested in the company for 76,020 shares. Wfg Advsr Lp accumulated 5,472 shares or 0.01% of the stock. Aperio Group Ltd Llc holds 0% or 27,301 shares in its portfolio. Nationwide Fund Advsr owns 49,757 shares or 0% of their US portfolio. Oracle Investment Mgmt has invested 5.21% of its portfolio in Pacific Biosciences of California (NASDAQ:PACB). Commercial Bank Of New York Mellon Corporation has 0% invested in the company for 358,890 shares. D E Shaw holds 216,884 shares or 0% of its portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 2 insider sales for $337,640 net activity. $168,720 worth of Pacific Biosciences of California (NASDAQ:PACB) was sold by Phillips James Michael on Friday, October 28.
More notable recent Pacific Biosciences of California (NASDAQ:PACB) news were published by: Fool.com which released: “Pacific Biosciences of California’s Q3 Revenue Soars on Strong Sequencing …” on November 03, 2016, also Reuters.com with their article: “BRIEF-Pacific Biosciences Of California posts Q3 loss $0.19/shr” published on November 02, 2016, Fool.com published: “Why Shares of Pacific Biosciences of California Spiked 19% Today” on April 22, 2016. More interesting news about Pacific Biosciences of California (NASDAQ:PACB) were released by: Fool.com and their article: “Why Pacific Biosciences of California Inc Is Down Big Today” published on January 11, 2016 as well as Fool.com‘s news article titled: “Pacific Biosciences of California Doubles Revenue in Q4” with publication date: February 04, 2016.
PACB Company Profile
Pacific Biosciences of California, Inc., incorporated in July 14, 2000, designs, develops and makes sequencing systems to help scientists resolve genetically complex problems. The Company’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System. Based on the Company’s SMRT sequencing technology, its products enable de novo genome assembly to finish genomes in order to identify, annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes, characterize alternatively spliced isoforms and find genes; targeted sequencing to characterize genetic variations, and deoxyribonucleic acid (DNA) base modification identification to help characterize epigenetic regulation and DNA damage.
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