Even I think the drop was too much! Ouch. But market usually overdo. Where is the true bottom. The volume is too low. I used to trade multiple 10K shares and usually drop the price or hike the price by 3% at least. The liquidity is also bad. Holding 10Ks of PACB needs a lot of guts.
I am sure he knows a lot more than me. But I wouldn't bet on imminent good news from PACB. Otherwise CEO would be charged with insider trading. I guess he has a lot of faith in this company. This is the third time he did buying in the open market. The first time his price was between 5 and 6. Second between 1 and 2. Now 3.61.
The real worry here is he might be overconfident about this company and his own capability.