Stock Traders Purchase High Volume of Pacific Biosciences of California Call Options (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the recipient of some unusual options trading on Monday. Stock investors purchased 3,015 call options on the stock. This represents an increase of 91% compared to the typical daily volume of 1,581 call options.

Pacific Biosciences of California Trading Up 0.3%

Shares of NASDAQ PACB traded up $0.01 during mid-day trading on Monday, hitting $1.69. The company had a trading volume of 1,402,163 shares, compared to its average volume of 6,631,138. The company has a market capitalization of $523.36 million, a price-to-earnings ratio of -3.92 and a beta of 2.29. Pacific Biosciences of California has a 1 year low of $1.09 and a 1 year high of $2.73. The stock’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.64.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%.The business had revenue of $37.18 million for the quarter, compared to analysts’ expectations of $39.94 million. As a group, equities research analysts forecast that Pacific Biosciences of California will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PACB has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Tuesday, April 21st. Barclays lifted their price objective on Pacific Biosciences of California from $1.00 to $1.50 and gave the stock an “underweight” rating in a report on Monday, May 11th. Finally, Zacks Research cut Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.83.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of institutional investors and hedge funds have recently modified their holdings of the company. Essential Partners LLC bought a new position in shares of Pacific Biosciences of California in the first quarter valued at approximately $25,000. Zacks Investment Management bought a new stake in Pacific Biosciences of California during the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in Pacific Biosciences of California by 891.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 20,478 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Pacific Biosciences of California in the 3rd quarter worth approximately $29,000. Finally, Outlook Wealth Advisors LLC bought a new position in Pacific Biosciences of California in the 4th quarter valued at $34,000.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.