Pacific Biosciences of California, Inc. (NASDAQ:PACB) Position Boosted by Green Alpha Advisors LLC

Green Alpha Advisors LLC raised its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 59.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,421 shares of the biotechnology company’s stock after acquiring an additional 38,208 shares during the period. Green Alpha Advisors LLC’s holdings in Pacific Biosciences of California were worth $187,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after purchasing an additional 353,092 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth about $719,000. State Street Corp lifted its stake in shares of Pacific Biosciences of California by 5.7% in the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after acquiring an additional 340,766 shares during the period. Soros Fund Management LLC boosted its holdings in shares of Pacific Biosciences of California by 23.6% in the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Barclays PLC raised its holdings in Pacific Biosciences of California by 143.0% during the third 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 in the last quarter.

Analysts Set New Price Targets

PACB has been the subject of a number of research reports. Scotiabank decreased 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 research note on Monday, November 11th. UBS Group cut 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 report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Thursday, January 9th. Finally, Piper Sandler boosted their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a 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 given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Stock Down 4.3 %

Shares of NASDAQ:PACB opened at $2.01 on Tuesday. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $7.50. 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 company has a market cap of $550.47 million, a PE ratio of -1.38 and a beta of 1.95. The firm has a 50 day simple moving average of $1.98 and a 200 day simple moving average of $1.80.

Insider Activity

In other news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

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.