PacBio appoints David Ruggiero as Global Head of Sales & Service to enhance global presence and support.
Quiver AI Summary
PacBio has appointed David Ruggiero as its new Global Head of Sales & Service, effective February 10, 2025. Ruggiero brings over 20 years of sales leadership experience in technology and life sciences, previously holding senior positions at companies such as Sinch AB, Zoom Video Communications, Microsoft, and Thermo Fisher Scientific. His role at PacBio will focus on accelerating the adoption of the company's sequencing platforms and enhancing global customer support. PacBio's President and CEO, Christian Henry, expressed enthusiasm about Ruggiero's appointment, highlighting his proven track record in building successful sales teams. PacBio specializes in advanced sequencing solutions for various research applications and aims to expand its global presence in the market.
Potential Positives
- Appointment of David Ruggiero as Global Head of Sales & Service highlights the company's commitment to strengthening its leadership team with experienced professionals.
- Mr. Ruggiero brings over two decades of relevant experience from notable companies, suggesting potential for enhanced sales strategies and market expansion.
- Focus on accelerating adoption of sequencing platforms and enhancing customer support indicates a strategic direction aimed at improving customer engagement and market penetration.
- Leadership expressed enthusiasm about Ruggiero's role, emphasizing collaboration to drive success and innovation in sequencing technologies.
Potential Negatives
- Appointment of a new executive might indicate leadership instability or transitions within the company.
- Use of strong forward-looking statements may raise concerns about the company's ability to meet ambitious growth and expansion goals, leading to skepticism among investors.
- Warnings about potential performance, quality, and regulatory issues could undermine investor confidence and create uncertainty about the company’s future prospects.
FAQ
Who is the new Global Head of Sales & Service at PacBio?
David Ruggiero has been appointed as the new Global Head of Sales & Service at PacBio.
What experience does David Ruggiero bring to PacBio?
Mr. Ruggiero has over two decades of experience in sales leadership in the technology and life sciences sectors.
When will David Ruggiero start his role at PacBio?
David Ruggiero is expected to start on February 10, 2025.
What will Ruggiero's focus be in his new role?
He will focus on accelerating the adoption of sequencing platforms and enhancing customer support globally.
What technologies does PacBio specialize in?
PacBio specializes in high-quality sequencing solutions, including HiFi long-read and SBB® short-read sequencing technologies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PACB Insider Trading Activity
$PACB insiders have traded $PACB stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $PACB stock by insiders over the last 6 months:
- CHRISTIAN O HENRY (See Remarks) sold 98,907 shares for an estimated $172,691
- OENE MARK VAN (See Remarks) has made 0 purchases and 2 sales selling 72,416 shares for an estimated $133,154.
- JEFF EIDEL (See Remarks) sold 26,760 shares for an estimated $42,601
- SUSAN G. KIM (See Remarks) sold 19,782 shares for an estimated $34,064
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PACB Hedge Fund Activity
We have seen 87 institutional investors add shares of $PACB stock to their portfolio, and 101 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VANGUARD GROUP INC removed 8,356,139 shares (-32.1%) from their portfolio in Q3 2024, for an estimated $14,205,436
- MILLENNIUM MANAGEMENT LLC added 5,792,951 shares (+125.1%) to their portfolio in Q3 2024, for an estimated $9,848,016
- BANK OF NEW YORK MELLON CORP removed 4,362,004 shares (-43.9%) from their portfolio in Q3 2024, for an estimated $7,415,406
- EDMOND DE ROTHSCHILD HOLDING S.A. added 3,571,460 shares (+21.3%) to their portfolio in Q3 2024, for an estimated $6,071,482
- JACKSON SQUARE PARTNERS, LLC removed 2,587,327 shares (-29.1%) from their portfolio in Q3 2024, for an estimated $4,398,455
- SUMITOMO MITSUI TRUST GROUP, INC. removed 1,687,265 shares (-14.2%) from their portfolio in Q4 2024, for an estimated $3,087,694
- D. E. SHAW & CO., INC. removed 1,645,499 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $2,797,348
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MENLO PARK, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of David Ruggiero as the company’s new Global Head of Sales & Service.
Mr. Ruggiero brings over two decades of experience in sales leadership within the technology and life sciences sectors. Prior to joining PacBio, he served as Senior Vice President, North America for Sinch AB, a leading global provider of cloud-based communication solutions for business and mobile operators. In his role he led North American sales for the enterprise, mid-market segments. Before that, he held senior sales positions at Zoom Video Communications, Microsoft Corporation, and Thermo Fisher Scientific, where, as part of Life Technologies, he was Chief Commercial Officer for the Life Sciences Solutions Group.
“We are thrilled to welcome David to the PacBio team,” said Christian Henry, President and CEO of PacBio. “His extensive experience and proven track record in creating and leading high-performing sales teams in both technology and life sciences make him an ideal fit as we continue to seek to expand our global presence and deliver innovative sequencing solutions to our customers.”
In his new role, Mr. Ruggiero will oversee PacBio’s global sales and service operations, focusing on accelerating the adoption of the company’s sequencing platforms and enhancing customer support worldwide.
“I am excited to join PacBio at such a pivotal time in the company’s growth,” said Mr. Ruggiero. “I look forward to working with the team to build on PacBio’s strong foundation and drive further success in bringing cutting-edge sequencing technologies to researchers and clinicians around the world.”
Mr. Ruggiero is expected to start on February 10, 2025.
About PacBio
Pacific Biosciences of California, Inc. (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies stem from two highly differentiated core technologies focused on accuracy, quality, and completeness, which include our HiFi long-read sequencing and our SBB® short-read sequencing technologies. Our products address solutions across a broad set of research applications, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit www.pacb.com and follow @PacBio.
PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.
Forward Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including statements relating to the uses, coverage, advantages, and benefits or expected uses, advantages or benefits of using, PacBio products or technologies; efforts to continue the Company’s expansion and presence globally, including in the clinical genomics market; efforts to accelerate the adoption of the company’s sequencing platforms and enhancing customer support worldwide; and other future events. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties and could cause actual outcomes and results to differ materially from currently anticipated results, including potential performance, quality and regulatory issues; inability to expand into the clinical or other markets; and third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption "Risk Factors." These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available.
Contacts
Investors:
Todd Friedman
[email protected]
Media:
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