Charles Schwab Investment Management Inc. Grows Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Charles Schwab Investment Management Inc. increased its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,040,303 shares of the biotechnology company’s stock after buying an additional 82,807 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Pacific Biosciences of California were worth $3,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PACB. ARK Investment Management LLC boosted its holdings in Pacific Biosciences of California by 0.6% in the third quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock worth $56,791,000 after acquiring an additional 193,947 shares in the last quarter. Marshall Wace LLP grew its position in Pacific Biosciences of California by 226.6% during the 2nd quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock valued at $2,207,000 after purchasing an additional 1,117,966 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Pacific Biosciences of California during the 2nd quarter valued at about $1,775,000. Koss Olinger Consulting LLC purchased a new position in Pacific Biosciences of California in the second quarter worth about $1,096,000. Finally, Squarepoint Ops LLC bought a new position in shares of Pacific Biosciences of California in the second quarter worth approximately $719,000.

Pacific Biosciences of California Stock Performance

PACB opened at $1.96 on Friday. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $10.65. The company has a market cap of $536.77 million, a price-to-earnings ratio of -1.34 and a beta of 1.95. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average is $1.98 and its 200 day moving average is $1.77.

Analyst Ratings Changes

PACB has been the subject of several analyst reports. Scotiabank reduced 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 report on Monday, November 11th. Piper Sandler boosted their price target 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. 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 report on Monday, November 11th. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.