Look At Analyst Expectations For A Better Read On Pacific Biosciences of California Inc. (NASDAQ: PACB)

ARK Investment Management LLC recently announced the acquisition of new stake in Pacific Biosciences of California Inc. (NASDAQ:PACB). The institutional investor has increased its shareholding in the Healthcare company by 8.03% to 27.75 million shares with purchase of 2.06 million shares. This fresh investment now brings its stake to 11.23% valued currently at $294.19 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.59 million to 19.91 million shares. And BlackRock Fund Advisors has lifted its position by 7.44% or 1.16 million shares – to 16.76 million shares.

With over 3.56 million Pacific Biosciences of California Inc. (PACB) shares trading Monday and a closing price of $13.06 on the day, the dollar volume was approximately $46.52 million. The shares have shown a positive half year performance of 22.86% and its price on 05/22/23 gained nearly 3.08%. Currently, there are 242.03M common shares owned by the public and among those 206.29M shares have been available to trade.

Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 1,963,687 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 214,210 shares.

The top 3 mutual fund holders in Pacific Biosciences of California Inc. are ARK Innovation ETF, ARK Genomic Revolution ETF, and Nikko AM Global Umbrella Fund – A. ARK Innovation ETF owns 14.43 million shares of the company’s stock, all valued at over $152.92 million. The company bought an additional 0.11 million shares recently to bring their total holdings to about 5.84% of the shares outstanding. ARK Genomic Revolution ETF bought 23848.0 shares to see its total holdings expand to 10.89 million shares valued at over $115.43 million and representing 4.41% of the shares outstanding. Nikko AM Global Umbrella Fund – A bought 2.95 million shares to bring its total holdings to over 7.78 million shares at a value of $82.49 million. Nikko AM Global Umbrella Fund – A now owns shares totaling to 3.15% of the shares outstanding.

However, the script later moved the day high at 13.43, up 3.08%. The company’s stock has a 5-day price change of 4.98% and 42.89% over the past three months. PACB shares are trading 59.66% year to date (YTD), with the 12-month market performance up to 133.21% higher. It has a 12-month low price of $3.85 and touched a high of $14.20 over the same period. PACB has an average intraday trading volume of 3.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.94%, 21.97%, and 44.55% respectively.

Institutional ownership of Pacific Biosciences of California Inc. (NASDAQ: PACB) shares accounts for 88.90% of the company’s 242.03M shares outstanding. Mutual fund holders own 50.43%, while other institutional holders and individual stakeholders account for 6.78% and 38.65% respectively.

It has a market capitalization of $3.26B and a beta (3y monthly) value of 1.65. The earnings-per-share (ttm) stands at -$1.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.63% over the week and 5.90% over the month.

Analysts forecast that Pacific Biosciences of California Inc. (PACB) will achieve an EPS of -$0.32 for the current quarter, -$0.29 for the next quarter and -$1.04 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.28. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -57.60%, and 17.50% over the next financial year. EPS should grow at an annualized rate of -1.00% over the next five years, compared to -9.90% over the past 5-year period.