Green Alpha Advisors LLC Boosts Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Green Alpha Advisors LLC raised its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 59.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,421 shares of the biotechnology company’s stock after purchasing an additional 38,208 shares during the quarter. Green Alpha Advisors LLC’s holdings in Pacific Biosciences of California were worth $187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PACB. Water Island Capital LLC raised its holdings in Pacific Biosciences of California by 91.1% in the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 9,537 shares during the period. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $30,000. Atria Investments Inc lifted its holdings in shares of 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 acquiring an additional 10,138 shares in the last quarter. Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the 3rd quarter worth $40,000. Finally, Ballentine Partners LLC acquired a new stake in Pacific Biosciences of California in the 3rd quarter valued at $43,000.

Pacific Biosciences of California Stock Down 4.3 %

PACB stock opened at $2.01 on Tuesday. The firm has a fifty day moving average price of $1.98 and a two-hundred day moving average price of $1.80. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $7.50. The firm has a market cap of $550.47 million, a price-to-earnings ratio of -1.38 and a beta of 1.95.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler boosted their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research note on Monday, November 11th. Finally, Scotiabank dropped 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, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and an average target price of $2.95.

Pacific Biosciences of California 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.