Pacific Biosciences of California (PACB) has been under a strong bear grip, hence the stock is down -11.06% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 4.94% in the past 1 week. The stock has risen by 6.51% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.18% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 1.41% and the 50-Day Moving Average is 7.96%.
Pacific Biosciences of California (NASDAQ:PACB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.98 and $7.88 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.09. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.02, notching a gain of 1.13% for the day. The total traded volume was 1,294,698 . The stock had closed at $7.93 on the previous day.
The company Insiders own 19.8% of Pacific Biosciences of California shares according to the proxy statements. Institutional Investors own 66.59% of Pacific Biosciences of California shares. In a related news,The officer (SVP, Research & Development) of Pacific Biosciences Of California, Inc., Phillips James Michael sold 20,000 shares at $10.29 on April 25, 2016. The Insider selling transaction had a total value worth of $205,800. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.