Levi & Korsinsky notifies investors that it has commenced an investigation into Pacific Biosciences of California, Inc. (NASDAQ: PACB) concerning potential violations of the federal securities laws.
On April 16, 2024, PACB preannounced poor Q1 2024 top-line results and then announced a significant reduction in its full-year guidance for 2024 as well as a reconsideration of their long-term guidance for fiscal year 2026. PACB attributed it to “an increasing number of customers delay instrument purchases and we experienced some unexpected softness in consumable shipments.” Analysts reacting to the preannounced results were surprised by the significance of the miss and resulting guide down, noting it was “alarming” and “far worse than we expected.” Following this news, PACB’s stock price fell by $1.44 per share to close at $1.40 per share.
If you suffered a loss on your Pacific Biosciences of California, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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