What's Going On With Pacific Biosciences Stock?
Portfolio Pulse from Erica Kollmann
Pacific Biosciences of California, Inc. (NASDAQ:PACB) reported preliminary unaudited Q4 revenue of $58.4 million and full-year 2023 revenue of $200.5 million, showing significant growth. Despite this, PACB shares have dropped over 20% in the past five days, with heavy trading volume on Thursday. The company's CEO highlighted the successful launch of new sequencing systems as a milestone.
January 11, 2024 | 7:32 pm
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Pacific Biosciences reported strong revenue growth but its stock price has significantly declined over the past five days, with a 10.3% drop in the latest session.
Despite positive revenue growth, the sharp decline in PACB's stock price suggests market concerns that may outweigh the positive earnings report. The heavy trading volume indicates significant investor reaction, which could continue to put downward pressure on the stock in the short term.
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IMPORTANCE 90
RELEVANCE 100