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Investors look to Lighten Up on Shares of Pacific Biosciences of California , Shares Down 6.8% (PACB)

Published on Fri, 06/21/2013 - 12:28
By Adrienne Chilton

Pacific Biosciences of California (NASDAQ:PACB) is one of today's worst performing low-priced stocks, down 6.8% to $2.47 on 1.1x average daily volume. Thus far today, Pacific Biosciences of California has traded 477,000 shares, vs. average volume of 453,000 shares per day. The stock has underperformed the Dow (-6.8% to the Dow's 0.3%) and underperformed the S&P 500 (-6.8% to the S&P's 0.2%) during today's trading.

Pacific Biosciences of California Inc. has developed a novel approach to studying the synthesis and regulation of DNA, RNA and protein. The Company's system enables real-time analysis of biomolecules with single molecule resolution.

In the past 52 weeks, Pacific Biosciences of California share prices have been bracketed by a low of $1.06 and a high of $3.25 and are now at $2.47, 133% above that low price. The 200-day and 50-day moving averages have moved 0.87% higher and 1.56% higher over the past week, respectively.

Potential upside of 6.6% exists for Pacific Biosciences of California , based on a current level of $2.47 and analysts' average consensus price target of $2.63. The stock should hit resistance at its 50-day moving average (MA) of $2.52, as well as support at its 200-day MA of $2.09.

By Adrienne Chilton
achilton@fnno.com

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