Pacific Biosciences of California Inc (NASDAQ:PACB) price on Wednesday, January 15, fall -5.68% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.75.
A look at the stock’s price movement, the close in the last trading session was $1.85, moving within a range at $1.73 and $2.01. The beta value (5-Year monthly) was 2.009. Turning to its 52-week performance, $7.50 and $1.16 were the 52-week high and 52-week low respectively. Overall, PACB moved -14.67% over the past month.
Pacific Biosciences of California Inc’s market cap currently stands at around $477.89 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 40.68M for the company’s revenue for the quarter, with a low and high estimate of 39.92M and 42M respectively. The average forecast suggests down to a -30.29% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 155.39M, representing a -22.51% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PACB is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 6 recommend PACB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PACB’s current price about -9.69% and -12.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 40.37, while 7-day volatility ratio is 12.25% and 9.19% in the 30-day chart. Further, Pacific Biosciences of California Inc (PACB) has a beta value of 1.94, and an average true range (ATR) of 0.19. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $2 and high of $4. Looking at the price targets, the low is -14.29% off current price level while to achieve the yearly target high, price needs to move -128.57%. Nonetheless, investors will most likely welcome a -71.43% jump to $3 which is the analysts’ median price.
If we refocus on Pacific Biosciences of California Inc (NASDAQ:PACB), historical trading data shows that trading volumes averaged 9.51 over the past 10 days and 9.67 million over the past 3 months. The company’s latest data on shares outstanding shows there are 273.81 million shares.
The 11.70% of Pacific Biosciences of California Inc’s shares are in the hands of company insiders while institutional holders own 83.23% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 56.85 million on 2024-12-31, giving us a short ratio of 6.69. The data shows that as of 2024-12-31 short interest in Pacific Biosciences of California Inc (PACB) stood at 2200.0 of shares outstanding, with shares short rising to 54.38 million registered in 2024-11-29. Current price change has pushed the stock -4.64% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PACB stock continues to rise going into the next quarter.
