NEW YORK (GenomeWeb News) – Shares of Pacific Biosciences climbed 12 percent in Friday afternoon trade after regulatory documents filed Thursday showed that Mike Hunkapiller, the firm's chairman, president, and CEO, had purchased 200,000 shares of the firm's stock on the open market.
According to a Form 4 filed with the US Securities and Exchange Commission, Hunkapiller bought the shares in multiple transactions at prices ranging from $3.51 to $3.72 and at an average price of $3.61 per share. Hunkapiller now owns 1.7 million shares of the firm's stock, according to the filing.
Investors greeted the filing enthusiastically, sending PacBio's stock up $.43 to $4.01 in Friday afternoon trade on the Nasdaq. Its shares had traded as high as $4.22 earlier in the day.
PacBio last month reported that its third quarter revenues jumped 164 percent year over year and 23 percent sequentially.