Tidal Investments LLC Has $36,000 Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Tidal Investments LLC lowered its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 78.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,358 shares of the biotechnology company’s stock after selling 79,072 shares during the quarter. Tidal Investments LLC’s holdings in Pacific Biosciences of California were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PACB. Barclays PLC increased its holdings in shares of Pacific Biosciences of California by 143.0% during the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares during the period. Geode Capital Management LLC increased its stake in Pacific Biosciences of California by 3.7% during the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock valued at $10,759,000 after acquiring an additional 225,034 shares during the period. XTX Topco Ltd acquired a new position in Pacific Biosciences of California in the 3rd quarter valued at approximately $97,000. Soros Fund Management LLC lifted its position in shares of Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after acquiring an additional 400,000 shares during the period. Finally, State Street Corp grew its holdings in shares of Pacific Biosciences of California by 5.7% during the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after purchasing an additional 340,766 shares in the last quarter.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.95 on Thursday. The business’s fifty day moving average is $2.00 and its two-hundred day moving average is $1.77. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The firm has a market cap of $534.03 million, a P/E ratio of -1.34 and a beta of 1.95. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $10.65.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Scotiabank reduced their target price on 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. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, November 12th. Piper Sandler lifted 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 research report on Monday, November 11th. Finally, UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.95.

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.