Centiva Capital LP Makes New $40,000 Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Centiva Capital LP acquired a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,358 shares of the biotechnology company’s stock, valued at approximately $40,000.

Other hedge funds have also recently modified their holdings of the company. Water Island Capital LLC grew its stake in Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 9,537 shares in the last quarter. Atom Investors LP bought a new position in shares of Pacific Biosciences of California during the 3rd quarter valued at about $30,000. Impact Partnership Wealth LLC purchased a new position in shares of Pacific Biosciences of California during the second quarter valued at about $37,000. Atria Investments Inc increased its holdings in shares of Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Pacific Biosciences of California in the third quarter worth about $43,000.

Pacific Biosciences of California Stock Down 4.2 %

Shares of NASDAQ PACB opened at $1.96 on Friday. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The firm has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $1.77. The company has a market cap of $536.77 million, a P/E ratio of -1.34 and a beta of 1.95. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank cut their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Monday, November 11th. Finally, Piper Sandler lifted their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus price target of $3.63.

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.