Pacific Biosciences of California (NASDAQ:PACB) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a report released on Thursday.

A number of other equities research analysts have also recently commented on PACB. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research report on Monday, November 11th. Piper Sandler boosted their target price 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. Finally, Scotiabank reduced their target price on 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 given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Stock Performance

PACB stock opened at $2.10 on Thursday. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $7.85. The firm has a market cap of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. 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 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $1.79.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated 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 transaction, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. FMR LLC lifted 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 valued at $694,000 after purchasing an additional 353,092 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Pacific Biosciences of California in the second quarter worth about $719,000. State Street Corp boosted its stake 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 acquiring an additional 340,766 shares in the last quarter. Soros Fund Management LLC grew its position 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 acquiring an additional 400,000 shares during the period. Finally, Barclays PLC increased its stake in shares of Pacific Biosciences of California by 143.0% in the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after purchasing an additional 350,196 shares in the last quarter.

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.