Pacific Biosciences of California (PACB) has risen sharply, recording gains of 3.12% in the past 4 weeks. However, the stock has corrected -6.87% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.06% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 0.95% and the 50-Day Moving Average is 0.74%. Pacific Biosciences of California (NASDAQ:PACB): On Fridays trading session , Opening price of the stock was $8.35 with an intraday high of $8.535. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $8.24. However, the stock managed to close at $8.27, a loss of 1.43% for the day. On the previous day, the stock had closed at $8.39. The total traded volume of the day was 945,554 shares.
The company Insiders own 19.8% of Pacific Biosciences of California shares according to the proxy statements. Institutional Investors own 67.01% of Pacific Biosciences of California shares.
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.