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Stock to Watch: Pacific Biosciences of California Up 7.2% (PACB)

Published on Mon, 03/11/2013 - 12:24
By Adrienne Chilton

Pacific Biosciences of California (NASDAQ:PACB) is one of today's best performing low-priced stocks, up 7.2% to $2.54 on 1.7x average daily volume. Pacific Biosciences of California has traded 718,000 shares thus far today, vs. average volume of 427,000 shares per day. The stock has outperformed the Dow (7.2% to the Dow's 0.3%) and outperformed the S&P 500 (7.2% 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.

Over the past year, Pacific Biosciences of California has traded in a range of $1.06 to $3.99 and is now at $2.54, 140% above that low. The 200-day and 50-day moving averages have moved 0.05% higher and 2.97% higher over the past week, respectively.

Pacific Biosciences of California (NASDAQ:PACB) has potential upside of 1.7% based on a current price of $2.54 and analysts' consensus price target of $2.58. The stock should find initial support at its 50-day moving average (MA) of $2.31 and further support at its 200-day MA of $1.93.

By Adrienne Chilton
achilton@fnno.com

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