Pacific Biosciences of California (NASDAQ:PACB) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 20,070,000 shares, a growth of 7.1% from the September 30th total of 18,740,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is presently 12.5 days. Currently, 14.5% of the shares of the stock are short sold.
Shares of PACB traded down $0.03 during midday trading on Monday, hitting $4.64. 572,100 shares of the company traded hands, compared to its average volume of 1,634,311. The firm has a 50 day moving average of $4.97 and a 200-day moving average of $5.82. Pacific Biosciences of California has a 52 week low of $4.37 and a 52 week high of $7.84. The stock has a market cap of $721.99 million, a price-to-earnings ratio of -6.11 and a beta of 1.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.22 and a current ratio of 1.52.
Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative net margin of 139.22% and a negative return on equity of 136.85%. The company had revenue of $21.92 million for the quarter, compared to the consensus estimate of $28.02 million. Sell-side analysts predict that Pacific Biosciences of California will post -0.71 earnings per share for the current fiscal year.
Several brokerages recently weighed in on PACB. Piper Jaffray Companies raised shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Tuesday, October 15th. ValuEngine raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.
About Pacific Biosciences of California
Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.
Further Reading: Day Trading – Risk Worth the Reward?
Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.