Avanza Fonder AB Acquires New Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Avanza Fonder AB acquired a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 76,408 shares of the biotechnology company’s stock, valued at approximately $140,000.

A number of other hedge funds have also bought and sold shares of PACB. Marshall Wace LLP grew its stake in shares of Pacific Biosciences of California by 226.6% in the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after acquiring an additional 1,117,966 shares during the period. Squarepoint Ops LLC bought a new stake in Pacific Biosciences of California in the 2nd quarter worth approximately $719,000. Federated Hermes Inc. purchased a new stake in Pacific Biosciences of California during the 2nd quarter valued at $612,000. Soros Fund Management LLC lifted its holdings in shares of Pacific Biosciences of California by 23.6% during the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after buying an additional 400,000 shares during the period. Finally, FMR LLC boosted its stake in shares of 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 during the last quarter.

Pacific Biosciences of California Stock Up 2.5 %

NASDAQ PACB opened at $1.64 on Monday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $7.50. The firm has a market capitalization of $449.13 million, a price-to-earnings ratio of -1.12 and a beta of 1.95. The company has a fifty day moving average of $1.92 and a two-hundred day moving average of $1.81.

Insider Transactions at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PACB shares. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a report on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. Piper Sandler upped their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Scotiabank decreased their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California presently has an average rating of “Hold” and a consensus target price of $2.95.

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.