Stock Alert: Pacific Biosciences Of California Slides 5%

(RTTNews) - Shares of Pacific Biosciences of California, Inc. (PACB) are losing more than 5 percent or $0.67 in Tuesday's morning trade at $12.07, after touching a new 52-week high of $12.90.

Monday, Pacific Biosciences announced the launch of the Sequel IIe System to accelerate the adoption of accurate HiFi sequencing, based on the company's Single Molecule, Real-Time or SMRT Sequencing technology.

The company noted that with increased computational capacity and on-instrument data processing, the new system can directly produce highly accurate long reads (HiFi reads) more quickly and more cost-effectively than ever, providing scientists with a comprehensive view of genomes and transcriptomes.

The Sequel IIe System eliminates the need for post-processing of sequence data by users and delivers a 70 percent reduction in overall secondary analysis time, depending on the application. It also provides up to 90 percent reduction in file transfer and data storage needs.

Pacific Biosciences has traded in a range of $2.20 to $12.90 in the past 52 weeks.