Stock Traders Buy Large Volume of Put Options on Pacific Biosciences of California (NASDAQ:PACB)

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Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the target of unusually large options trading activity on Friday. Investors purchased 12,182 put options on the company. This is an increase of approximately 299% compared to the typical daily volume of 3,053 put options.

Separately, Canaccord Genuity assumed coverage on shares of Pacific Biosciences of California in a report on Monday, September 27th. They issued a “buy” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Buy” and a consensus target price of $46.40.

Shares of PACB opened at $20.46 on Friday. The firm’s 50-day moving average price is $23.85 and its 200-day moving average price is $27.30. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -97.43 and a beta of 1.16. The company has a current ratio of 20.32, a quick ratio of 19.99 and a debt-to-equity ratio of 1.07. Pacific Biosciences of California has a 1-year low of $18.26 and a 1-year high of $53.69.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Tuesday, November 2nd. The biotechnology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Pacific Biosciences of California had a negative net margin of 30.39% and a negative return on equity of 29.42%. During the same quarter in the prior year, the business posted ($0.14) EPS. On average, research analysts forecast that Pacific Biosciences of California will post -0.9 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in PACB. Credit Agricole S A bought a new stake in shares of Pacific Biosciences of California during the 2nd quarter valued at about $29,000. Itau Unibanco Holding S.A. bought a new stake in Pacific Biosciences of California during the second quarter worth about $30,000. Advisory Services Network LLC bought a new stake in Pacific Biosciences of California during the second quarter worth about $52,000. Profund Advisors LLC bought a new stake in Pacific Biosciences of California during the second quarter worth about $200,000. Finally, CIBC Asset Management Inc boosted its stake in Pacific Biosciences of California by 16.2% during the third quarter. CIBC Asset Management Inc now owns 8,042 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 1,121 shares in the last quarter. 86.33% of the stock is currently owned by hedge funds and other institutional investors.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc engages in the development, manufacture and sale of an integrated platform for genetic analysis. The firm’s products and services include PacBio sequel system, consumables, analytical software and single molecule real-time (SMRT) compatible products. It operates through the following geographical segments: North America, Europe and Asia Pacific.

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