Pacific Biosciences of California (NASDAQ:PACB) Upgraded at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research note published on Thursday morning.

A number of other research firms also recently weighed in on PACB. Scotiabank reduced their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research note on Monday, November 11th. Finally, Piper Sandler raised their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Stock Performance

PACB stock opened at $2.10 on Thursday. The firm has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.79. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $7.85. The firm has a market cap of $575.11 million, a PE ratio of -1.44 and a beta of 1.95. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Insider Activity

In other news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Water Island Capital LLC grew its position in shares of Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 9,537 shares in the last quarter. Atom Investors LP bought a new position in Pacific Biosciences of California during the 3rd quarter worth about $30,000. Atria Investments Inc increased its position in Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 10,138 shares during the period. Centiva Capital LP bought a new stake in shares of Pacific Biosciences of California in the 3rd quarter valued at about $40,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Pacific Biosciences of California in the 3rd quarter worth approximately $43,000.

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.