Nordea Investment Management AB Has $915,000 Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Nordea Investment Management AB lifted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 21.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 517,185 shares of the biotechnology company’s stock after buying an additional 91,559 shares during the quarter. Nordea Investment Management AB owned about 0.19% of Pacific Biosciences of California worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Creative Planning grew its position in shares of Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Pacific Biosciences of California by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock worth $322,000 after buying an additional 9,516 shares during the period. Water Island Capital LLC grew its position in shares of Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 9,537 shares during the period. Atria Investments Inc grew its position in shares of Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares during the period. Finally, Impact Partnership Wealth LLC grew its position in shares of Pacific Biosciences of California by 44.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock worth $67,000 after buying an additional 12,093 shares during the period.

Pacific Biosciences of California Price Performance

PACB opened at $2.10 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The company has a market capitalization of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. The firm’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $1.80. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $7.85.

Wall Street Analysts Forecast Growth

PACB has been the subject of several recent analyst reports. Scotiabank reduced their price objective 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. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday. 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 note on Monday, November 11th. Finally, Piper Sandler boosted their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.95.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Pacific Biosciences of California 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.