Pacific Biosciences of California (NASDAQ:PACB) Upgraded at UBS Group

UBS Group upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a hold rating in a research report report published on Sunday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday. Morgan Stanley dropped their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Scotiabank reduced their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday. Finally, Piper Sandler raised their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.63.

Pacific Biosciences of California Stock Performance

PACB stock opened at $1.98 on Friday. Pacific Biosciences of California has a 1 year low of $1.16 and a 1 year high of $10.65. The stock has a market capitalization of $539.61 million, a price-to-earnings ratio of -1.36 and a beta of 2.01. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The stock’s fifty day moving average is $1.91 and its two-hundred day moving average is $1.77.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Pacific Biosciences of California

Several institutional investors have recently made changes to their positions in PACB. FMR LLC lifted its position in Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after buying an additional 353,092 shares in the last quarter. Senvest Management LLC grew its holdings in shares of Pacific Biosciences of California by 36.1% during the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock valued at $1,860,000 after acquiring an additional 290,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pacific Biosciences of California by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock worth $3,469,000 after acquiring an additional 82,807 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Pacific Biosciences of California during the third quarter worth $190,000. Finally, Atria Investments Inc raised its holdings in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares in the last quarter.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.