Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; clinical, government, and academic institutions; genomics service providers; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. Pacific Biosciences of California, Inc. has a collaboration with Invitae Corporation to develop ultra-high-throughput clinical whole genome sequencing platform; and a research collaboration with Rady Children's Institute for Genomic Medicine for whole genome sequencing platform. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.
IPO Year: 2010
Exchange: NASDAQ
Website: pacb.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/11/2024 | Buy → Neutral | UBS | |
| 6/3/2024 | $4.00 | Buy | Jefferies |
| 4/22/2024 | Overweight → Neutral | JP Morgan | |
| 4/18/2024 | $7.00 → $2.50 | Buy → Neutral | Goldman |
| 12/14/2023 | $11.00 | Overweight | Stephens |
| 12/14/2023 | Neutral | Guggenheim | |
| 12/13/2023 | Peer Perform | Wolfe Research | |
| 11/17/2023 | $13.00 → $10.00 | Neutral → Buy | UBS |
| 10/31/2023 | $11.00 | Neutral → Overweight | Cantor Fitzgerald |
| 9/28/2023 | $11.00 | Outperform | Bernstein |
MENLO PARK, Calif., Nov. 08, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will be participating in the following upcoming investor conferences: UBS Global Healthcare Conference on Wednesday, November 13, 2024, at 5:00 PM ET in Rancho Palos Verdes, CAWolfe Research Healthcare Conference on Tuesday, November 19, 2024, at 3:30 PM ET in New York, NYStephens Annual Investment Conference on Wednesday, November 20, 2024, at 3:00 PM ET in Nashville, TNPiper Sandler 36th Annual Healthcare Conference on Tuesday, December 3, at 4:00 PM ET in New York, NY Live webcasts of the events can be ac
MENLO PARK, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended September 30, 2024. Third quarter results: Revenue of $40.0 million compared with $55.7 million in the prior-year period.Instrument revenue of $16.8 million compared with $34.7 million in the prior-year period. Instrument revenue in the third quarter of 2024 included 22 Revio™ sequencing systems.Consumables revenue of $18.5 million compared with $16.9 million in the prior-year period.Service and other revenue of $4.7 million compared with $4.1 million in the prior-year period. Gross profit, operating expenses, net loss, and net loss per share are reported on
MENLO PARK, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced that it has entered into a privately negotiated exchange agreement with a holder of PacBio's remaining outstanding 1.50% Convertible Senior Notes due 2028 (the "2028 Notes"), pursuant to which PacBio will (i) issue $200 million principal amount of its 1.50% Convertible Senior Notes due 2029 (the "New Notes"), (ii) issue 20,451,570 shares (the "Shares") of PacBio's common stock ("common stock"), and (iii) make a cash payment in the amount of $50 million (the "Cash Consideration") in exchange for $459 million principal amount
MENLO PARK, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), developer of the world's most advanced sequencing technologies, today announced the Vega™ system, the company's first benchtop long-read sequencing platform. Vega delivers all the functionality of the Revio system, PacBio's high-throughput long-read sequencer, into a compact, lower-throughput benchtop platform. Offering exceptional data accuracy with HiFi technology, fast turnaround time, and a U.S. list price of $169,000, Vega is the perfect solution for researchers looking to adopt long-read sequencing across a variety of applications, including targeted sequencing, RNA sequencing, and small genome sequencing.
BOSTON, Oct. 30, 2024 /PRNewswire/ -- Volta Labs™, a genomics applications company, announced today that it has joined the PacBio Compatible program, further expanding the partnership between Volta Labs and PacBio. Volta Labs is partnering with PacBio to offer walk-away automation for PacBio library prep, enabling labs to scale sample prep for sequencing. Through preloaded apps on the Callisto™ Sample Prep System, a push-button sample prep solution for all NGS sequencing needs, PacBio customers can prepare high-quality PacBio HiFi libraries with less than 30 minutes of hands-o
MENLO PARK, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced SPRQ, an improved sequencing chemistry for its Revio™ long-read sequencing system. The new chemistry will reduce Revio DNA input requirements by 4x to 500ng per sample, which enables more sample types such as saliva extracted with PacBio's new Nanobind protocol and tumor samples to be sequenced with HiFi sequencing technology. It will also increase the Revio system's output, which together with improved analysis methods, enables customers to reduce their sequencing cost per genome by up to 50 percent. Paired instrument softwa
MENLO PARK, Calif., Oct. 22, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate genomic sequencing solutions, today announced the inclusion of the Onso short-read sequencing platform in the 10x Genomics Compatible Partner Program. The 10x Genomics Compatible Partner Program recognizes instruments and workflows compatible with 10x Genomics' products and applications, thereby broadening the range of sequencing solutions available to researchers worldwide. The Onso platform, designed to provide exceptional accuracy and performance in short-read sequencing, is well-aligned with 10x Genomics' suite of tools for single-cell and spatial biology ap
SINGAPORE, Oct. 11, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the signing of a new Research Collaboration Agreement (RCA) with the National Cancer Centre of Singapore (NCCS). This collaboration aims to accelerate cancer research by leveraging PacBio's advanced sequencing technologies, including the innovative Onso short-read sequencing platform, to profile the genomic landscape of prevalent cancers in Asia. The research project will focus on profiling prevalent cancers in Asia using PacBio's Onso short-read sequencing system and Kinnex long-read sequencing kit, with a particular emphasis on s
MENLO PARK, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its third quarter 2024 financial results on Thursday, November 7, 2024, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Thursday, November 7, 2024, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the "PacBio
SINGAPORE, Oct. 01, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, in collaboration with the Agency for Science, Technology, and Research (A*STAR), and Macrogen, today announced the opening of a state-of-the-art joint laboratory at A*STAR Genome Institute of Singapore (A*STAR GIS) in Singapore. This new facility, located on Level 5 of the Genome building at Biopolis, will provide the local research community access to cutting-edge long-read sequencing technology. This initiative marks a significant milestone for the expanding application of HiFi long-read sequencing in precision medicine, population genomics,
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UBS downgraded Pacific Biosciences from Buy to Neutral
Jefferies resumed coverage of Pacific Biosciences with a rating of Buy and set a new price target of $4.00
JP Morgan downgraded Pacific Biosciences from Overweight to Neutral
Goldman downgraded Pacific Biosciences from Buy to Neutral and set a new price target of $2.50 from $7.00 previously
Stephens initiated coverage of Pacific Biosciences with a rating of Overweight and set a new price target of $11.00
Guggenheim initiated coverage of Pacific Biosciences with a rating of Neutral
Wolfe Research initiated coverage of Pacific Biosciences with a rating of Peer Perform
UBS upgraded Pacific Biosciences from Neutral to Buy and set a new price target of $10.00 from $13.00 previously
Cantor Fitzgerald upgraded Pacific Biosciences from Neutral to Overweight and set a new price target of $11.00
Bernstein initiated coverage of Pacific Biosciences with a rating of Outperform and set a new price target of $11.00
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MENLO PARK, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended September 30, 2024. Third quarter results: Revenue of $40.0 million compared with $55.7 million in the prior-year period.Instrument revenue of $16.8 million compared with $34.7 million in the prior-year period. Instrument revenue in the third quarter of 2024 included 22 Revio™ sequencing systems.Consumables revenue of $18.5 million compared with $16.9 million in the prior-year period.Service and other revenue of $4.7 million compared with $4.1 million in the prior-year period. Gross profit, operating expenses, net loss, and net loss per share are reported on
MENLO PARK, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its third quarter 2024 financial results on Thursday, November 7, 2024, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Thursday, November 7, 2024, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the "PacBio
MENLO PARK, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended June 30, 2024. Second quarter results: Revenue of $36.0 million compared with $47.6 million in the prior-year period.Instrument revenue of $14.7 million compared with $29.9 million in the prior-year period. Instrument revenue in the second quarter of 2024 included 24 Revio™ sequencing systems.Consumables revenue of $17.0 million compared with $13.7 million in the prior-year period.Service and other revenue of $4.3 million compared with $3.9 million in the prior-year period. Gross profit for the second quarter of 2024 was $5.9 million, which included $4.6 mil
MENLO PARK, Calif., July 15, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its second quarter 2024 financial results on Wednesday, August 7, 2024, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Wednesday, August 7, 2024, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the "PacBio Q
MENLO PARK, Calif., May 9, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended March 31, 2024. First quarter results: Revenue of $38.8 million compared with $38.9 million in the prior-year period.Instrument revenue of $19.0 million compared with $20.7 million in the prior-year period. Instrument revenue in the first quarter of 2024 included 28 RevioTM sequencing systems.Consumables revenue of $16.0 million compared with $14.0 million in the prior-year period.Service and other revenue of $3.8 million compared with $4.2 million in th
Announces Plan to Reduce Annualized Operating Expense Run Rate by $50 - $75 Million Q1 2024 Earnings Conference Call Scheduled for May 9, 2024 MENLO PARK, Calif., April 16, 2024 /PRNewswire/ – PacBio (NASDAQ:PACB) today announced preliminary, unaudited revenue for the quarter ended March 31, 2024. Preliminary First Quarter Results Preliminary revenue of $38.8 million, roughly flat compared with $38.9 million in the prior-year period.Instrument revenue of $19.0 million compared with $20.7 million in the prior-year period.Consumables revenue of $16.0 million compared with $14.
MENLO PARK, Calif., Feb. 15, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) today announced financial results for the quarter and fiscal year ended December 31, 2023. Fourth quarter results Revenue of $58.4 million, a 113% increase compared with $27.4 million in the prior-year period.Instrument revenue of $35.1 million compared with $6.1 million in the prior-year period.Consumables revenue of $18.9 million compared with $16.7 million in the prior-year period.Service and other revenue of $4.4 million compared with $4.6 million in the prior-year period.Shipped 44 RevioTM sequencing s
MENLO PARK, Calif., Jan. 25, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its fourth quarter 2023 financial results on Thursday, February 15, 2024, at 5:00 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at: https://investor.pacificbiosciences.com/. Date: Thursday, February 15, 2024, at 5:00 pm ET (2:00 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please
Ships a record number of PacBio sequencers in 2023, including 173 Revio™ systems, and announces record fourth quarter preliminary consumable revenue of $18.9 million as demand for long-read sequencing grows and increased capacity from the Revio system drives sample elasticity MENLO PARK, Calif., Jan. 8, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced preliminary unaudited revenue for the fourth quarter 2023 and full year 2023 of $58.4 million and $200.5 million representing year-over-year growth of 113% and 56%, respectively.
MENLO PARK, Calif., Oct. 12, 2023 /PRNewswire/ -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its third quarter 2023 financial results on Monday, October 30, 2023, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at: https://investor.pacificbiosciences.com/. Date: Monday, October 30, 2023, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please dial i
MENLO PARK, Calif., Dec. 11, 2023 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that David Botstein, Ph.D., a member of PacBio's Board of Directors, has retired from his position effective December 7, 2023. "I would like to thank David for his dedication to PacBio since he joined the Board in 2012," said Christian Henry, President and Chief Executive Officer. "His deep understanding of genomics and broad experience in technological innovation in the field has made him a valuable leader as PacB
Current Member, Jay Shendure, is Appointed Chair MENLO PARK, Calif., May 30, 2023 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Olga Troyanskaya, Ph.D., Professor of Computer Science and the Lewis Sigler Institute for Integrative Genomics at Princeton University to PacBio's Scientific Advisory Board (SAB) and Jay Shendure, Ph.D. as Chair. Dr. Shendure is a Professor of Genome Sciences at the University of Washington. "I am so honored to have Dr. Troyanskaya join PacBio's Sci
Life sciences tools veteran brings decades of experience leading successful teams, commercializing industry-defining technology platforms, and scaling global organizations Resolve Biosciences, a company pioneering Molecular Cartography™ technology, announced today that it has appointed John Stark as Chief Executive Officer. As part of this transition, Resolve Biosciences' previous CEO, Jason Gammack, will be leaving the company. Mr. Stark brings more than 20 years of experience commercializing early-stage technologies, scaling organizations, and navigating capital markets for some of the most innovative life sciences companies. Most recently, Mr. Stark was Chief Executive Officer of Quant
MENLO PARK, Calif., July 21, 2022 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Jeff Eidel as Chief Commercial Officer, effective August 16, 2022. In this role, Mr. Eidel will have global responsibility for all commercial activity including sales, marketing, and customer support. "Jeff is a strong leader and an incredible executive, and I expect him to have a significant impact on the entire organization," said Christian Henry, President and Chief Executive Officer of PacBio.
CAMBRIDGE, United Kingdom, June 14, 2022 (GLOBE NEWSWIRE) -- Cambridge Epigenetix (CEGX), a life sciences tools and technology company which is revolutionizing genome sequencing, today announced the appointment of Peter J. Fromen as Chief Executive Officer effective July 18, 2022. Gail Marcus who has been acting Chief Executive Officer since 2020 will continue as Chair of the Board. Professor Sir Shankar Balasubramanian FRS, co-founder of Cambridge Epigenetix, said, "We welcome Peter and his vast industry experience and valuable relationships to lead Cambridge Epigenetix at this critical juncture. The founders, Gail and the entire Board are delighted to have Peter's leadership as we see
CANTON, Mass., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (NASDAQ:ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced the appointment of Prathyusha Duraibabu to the Company's Board of Directors, effective November 19, 2021. Ms. Duraibabu will serve as an independent director of the Company and member of the Audit Committee of the Board. "Prathyusha is a proven leader who brings significant expertise from a more than 24-year career in the technology and healthcare sectors, and has held senior leadership positio
MENLO PARK, Calif., May 17, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ:PACB), a leading provider of high-quality, long-read sequencing platforms, today announced the appointment of three new hires to its growing team. Dr. Catherine Ball joins the company as Senior Vice President of Research, Kathleen Lynch joins as Head of Global Government Affairs and Corporate Communications, and Michele Farmer joins as Chief Accounting Officer. Dr. Ball is a product of the California education system having completed her PhD in Molecular Biology at UCLA and her Postdoctoral research at Berkeley prior to 17 years at Stanford. Most recently, she was the Chief Scientific Offi
MENLO PARK, Calif., Jan. 12, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ: PACB) (“Pacific Biosciences” or the “Company”), a leading provider of high-quality, long read sequencing platforms, today announced that the Board of Directors granted non-qualified stock options covering an aggregate of 750,000 shares of Pacific Biosciences common stock and restricted stock units (“RSUs”) covering 335,000 shares of Pacific Biosciences common stock to the Company’s recently hired Chief Operating Officer, Mark Van Oene, under the Pacific Biosciences 2020 Inducement Equity Incentive Plan (the “Inducement Plan”) effective on January 8, 2021. The Board of Directors also gran
Wall Street continues to experience a series of memorable days, with the bulls riding the rally with increasing confidence, certain that the Federal Reserve will begin cutting interest rates in September. Fed futures currently indicate a 100% probability that policymakers will cut interest rates in two months, according to the CME Group‘s FedWatch tool. This time, blue-chip stocks and gold are stealing the spotlight by breaking their all-time highs, while small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), have posted their fifth consecutive day in the green, marking their best five-day rally in over four years. The Dow Jones Industrial Average surged to 40,800 points
Shares of The Charles Schwab Corporation (NYSE:SCHW) fell sharply during Tuesday's session following second-quarter results. Charles Schwab said adjusted net income declined 2% Y/Y to $1.465 billion. Adjusted EPS fell 3% Y/Y to 73 cents, beating the consensus of 72 cents, according to data from Benzinga Pro. Charles Schwab shares dipped 7.5% to $69.42 on Tuesday. Here are some other stocks moving in today’s mid-day session. Gainers Yoshitsu Co., Ltd (NASDAQ:TKLF) jumped 109% to $0.6437 after the company reported a year-over-year increase in FY24 financial results. Silo Pharma, Inc. (NASDAQ:SILO) shares climbed 95.4% to $2.12 after the company obtained an exclusive global l
U.S. stocks were mostly higher, with the Dow Jones index gaining around 550 points on Tuesday. Shares of UnitedHealth Group Incorporated (NYSE:UNH) rose sharply during Tuesday's session following a second-quarter earnings beat. The company reported adjusted EPS of $6.80, up from $6.14 a year ago, beating the consensus of $6.66, according to data from Benzinga Pro. UnitedHealth’s revenues increased nearly $6 billion (+6.4% Y/Y) to $98.86 billion, beating the consensus of $98.34 billion, led by expansion in people served domestically at Optum and UnitedHealthcare. UnitedHealth Group shares gained 5.7% to $544.96 on Tuesday. Here are some other big stocks recording gains in today’s
U.S. stocks were higher, with the Nasdaq Composite index gaining around 100 points on Friday. Shares of The Bank of New York Mellon Corporation (NYSE:BK) rose during Friday's session following better-than-expected quarterly financial results. The finance behemoth reported second-quarter adjusted earnings per share of $1.51, beating the street view of $1.43. Quarterly revenue of $4.597 billion, an increase of 2% year-over-year, surpassed the analyst consensus of $4.523 billion, according to data from Benzinga Pro. Bank of New York Mellon shares surged 4.3% to $64.12 on Friday. Here are some other big stocks recording gains in today’s session. Lucid Group, Inc. (NASDAQ:LCID) sh
U.S. stocks were mostly higher, with the Dow Jones index gaining around 100 points on Thursday. Shares of Methode Electronics, Inc. (NYSE:MEI) rose sharply during Thursday's session after the company reported better-than-expected fourth-quarter sales results. Methode Electronics reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million. Adjusted EPS loss of 23 cents missed the analyst consensus loss estimate of 20 cents, according to data from Benzinga Pro. Methode Electronics shares surged 29.4% to $12.22 on Thursday. Here are some other big stocks recording gains in today’s session.
Consortium Delivers Publicly Available Datasets that Enrich Detection of Rare and Novel Genetic Variants for Advances in Human Disease Research
Providing a diverse range of perspectives from bullish to bearish, 11 analysts have published ratings on Pacific Biosciences (NASDAQ:PACB) in the last three months. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2 6 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 3 0 0 2M Ago 2 2 3 0 0 3M Ago 0 0 0 0 0 Analysts have set 12-month price targets for Pacific Biosciences, revealing an average target of $3.64, a high estimate of $8.00, and a low estimate of $2.00. A decline of 57.92% from the prior average price
Jefferies analyst Tycho Peterson initiates coverage on Pacific Biosciences (NASDAQ:PACB) with a Buy rating and announces Price Target of $4.
Cathie Wood‘s flagship ARK Innovation ETF (NYSE:ARKK) has been navigating through significant losses, showcasing the challenges faced by some of its major holdings. What Happened: Since its peak in February 2021, the fund has experienced substantial losses. The ARKK ETF has declined by 72% since its peak on Feb. 19, 2021. During this period, the Nasdaq 100, its primary benchmark, has surged by 39%, reaching record highs. Year-to-date, the ARKK ETF has decreased by 15%, while the Nasdaq 100 has increased by 12%. Data from Cathie’s Ark, a platform monitoring ARK Invest’s ETFs’ daily trades, reveals that only Tesla Inc (NASDAQ:TSLA), among ARKK’s top 10 stock holdings, has shown a positi