Pacific Biosciences of California Inc. (PACB) looking to reclaim success with recent performance

With 3.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.87 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $11.49 whereas the lowest price it dropped to was $10.82. The 52-week range on PACB shows that it touched its highest point at $14.20 and its lowest point at $3.85 during that stretch. It currently has a 1-year price target of $12.14. Beta for the stock currently stands at 1.62.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PACB was up-trending over the past week, with a rise of 3.58%, but this was up by 30.07% over a month. Three-month performance surged to 70.03% while six-month performance rose 135.21%. The stock gained 5.91% in the past year, while it has gained 38.02% so far this year. A look at the trailing 12-month EPS for PACB yields -1.34 with Next year EPS estimates of -1.34. For the next quarter, that number is -0.36. This implies an EPS growth rate of -628.30% for this year and 2.20% for next year. EPS is expected to decline by -1.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.30%.

Float and Shares Shorts:

At present, 225.12 million PACB shares are outstanding with a float of 206.29 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.95 million, which was 10.65% higher than short shares on Sep 14, 2022. In addition to Mr. Christian O. Henry M.B.A. as the firm’s Pres, CEO & Director, Ms. Susan G. Kim serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 97.77% of PACB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.70% of PACB, in contrast to 51.11% held by mutual funds. Shares owned by individuals account for 36.00%. As the largest shareholder in PACB with 12.69% of the stake, ARK Investment Management LLC holds 28,692,494 shares worth 28,692,494. A second-largest stockholder of PACB, Jackson Square Partners LLC, holds 20,258,099 shares, controlling over 8.96% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PACB, holding 19,320,257 shares or 8.55% stake. With a 5.73% stake in PACB, the ARK Innovation ETF is the largest stakeholder. A total of 12,946,633 shares are owned by the mutual fund manager. The ARK Genomic Revolution ETF, which owns about 4.84% of PACB stock, is the second-largest Mutual Fund holder. It holds 10,952,357 shares valued at 89.59 million. American Funds Small Cap World Fu holds 3.48% of the stake in PACB, owning 7,876,491 shares worth 64.43 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PACB since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PACB analysts setting a high price target of $14.00 and a low target of $10.00, the average target price over the next 12 months is $12.14. Based on these targets, PACB could surge 24.0% to reach the target high and fall by -11.43% to reach the target low. Reaching the average price target will result in a growth of 7.53% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PACB will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of -$1.35 being high and -$1.43 being low. For PACB, this leads to a yearly average estimate of -$1.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Pacific Biosciences of California Inc. surprised analysts by -$0.01 when it reported -$0.34 EPS against a consensus estimate of -$0.33. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.34 and the low estimate is -$0.40. The average estimate for the next quarter is thus -$0.35.

Summary of Insider Activity:

Insiders traded PACB stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 45,000 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 927,500 while 5,007,709 shares were sold.

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