Pacific Biosciences of California (NASDAQ:PACB) has tumbled 9.62% during the past week and has dropped 10.37% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 8.54%. Pacific Biosciences of California (NASDAQ:PACB) has underperformed the index by 11.19% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Pacific Biosciences of California (NASDAQ:PACB): The stock opened at $9.18 on Friday but the bulls could not build on the opening and the stock topped out at $9.21 for the day. The stock traded down to $8.61 during the day, due to lack of any buying support eventually closed down at $8.64 with a loss of -5.57% for the day. The stock had closed at $9.15 on the previous day. The total traded volume was 2,113,892 shares.
The company shares have rallied 61.19% from its 1 Year high price. On Dec 31, 2015, the shares registered one year high at $14.00 and the one year low was seen on Sep 30, 2015. The 50-Day Moving Average price is $9.24 and the 200 Day Moving Average price is recorded at $9.83.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Phillips James Michael, officer (SVP, Research & Development) of Pacific Biosciences Of California, Inc., had unloaded 20,000 shares at an average price of $10.29 in a transaction dated on April 25, 2016. The total value of the transaction was worth $205,800.
Many analysts have stated their opinion on the company shares. MKM Partners initiates coverage on Pacific Biosciences of California (NASDAQ:PACB) The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency announces the price target to $16.5 per share. The rating by the firm was issued on April 15, 2016. Currently the company Insiders own 19.8% of Pacific Biosciences of California shares according to the proxy statements. Institutional Investors own 66.53% of Pacific Biosciences of California shares.
Pacific Biosciences of California Inc. designs, develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Companys Single Molecule, Real-Time (SMRT) technology, its products enable de novo genome assembly to finish genomes in order to more fully 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 more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage. SMRT enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company introduced the PacBio RS II System to address many of the limitations.