Virtu Financial LLC acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 18,047 shares of the biotechnology company’s stock, valued at approximately $177,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth $59,000. Private Wealth Partners LLC acquired a new stake in shares of Pacific Biosciences of California in the 4th quarter worth $98,000. Axxcess Wealth Management LLC boosted its holdings in shares of Pacific Biosciences of California by 23.6% in the third quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 3,494 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $168,000. Finally, Interchange Capital Partners LLC increased its stake in shares of Pacific Biosciences of California by 11.9% during the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 1,991 shares during the period.
Pacific Biosciences of California Trading Down 6.4 %
Shares of Pacific Biosciences of California stock opened at $1.47 on Monday. The business has a 50 day moving average price of $1.79 and a 200 day moving average price of $4.71. The company has a market capitalization of $400.36 million, a P/E ratio of -1.29 and a beta of 2.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on PACB shares. Scotiabank lowered their price objective on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. Barclays dropped their price objective on Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They issued a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $2.50 in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.38.
Get Our Latest Stock Report on PACB
About Pacific Biosciences of California
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.
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