10 Best Genomics Stocks To Buy Right Now

6. Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Upside potential as of November 14: 47.48% 

Pacific Biosciences of California, Inc. (NASDAQ:PACB) is at the forefront of long-read sequencing technology, which maps the entire genome using longer DNA segments. Despite the completion of the Human Genome Project in 2003, PacBio proved the value of its HiFi whole-genome sequencing method by assisting researchers in completing the 8% of the genome that the previous effort had overlooked.

Omniome, Inc.’s Sequencing by Binding (SBB) chemical was acquired by Pacific Biosciences of California, Inc. (NASDAQ:PACB) in 2021. A different method from short-read sequencing, SBB is intended to read repetitive, challenging-to-read stretches of the genome. Scientists who want the benefits of both short- and long-read sequencing may have an alternative in PacBio’s HiFi sequencing and SBB chemistry when appropriately combined.

The Americas account for the majority of the company’s sales, with Asia-Pacific, Europe, the Middle East, and Africa following closely behind. In Q3 2024, PacBio’s consumables sales increased from $16.9 million YoY to $18.5 million, a record quarter for Onso. Furthermore, due to efficient cost control and operational improvements, non-GAAP operating expenditures dropped to $62.4 million from $90.9 million YoY, and the non-GAAP net loss dropped from $67.9 million to $46.0 million.

Pacific Biosciences of California, Inc. (NASDAQ:PACB) made significant strategic advances with the launch of its SPRQ chemistry and the Vega benchtop sequencer, which aimed to improve data accuracy while lowering sequencing costs. To strengthen its technological offerings and presence in the precision medicine market, the company also formed key alliances and partnerships, such as joining the 10x Genomics Compatible Partner Program and setting up a collaborative laboratory in Singapore.

Looking forward, the management of Pacific Biosciences of California, Inc. (NASDAQ:PACB) is hopeful that the company will resume growth in 2025 as a result of its strategic efforts, financial position strengthening, and reduction of cash burn. The company is still dedicated to reaching cash flow positivity by the end of 2026, and it plans to do so by utilizing its strategic alliances and innovative product releases.