Insider Selling: Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells $69,842.15 in Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction that occurred on 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 represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Pacific Biosciences of California Price Performance

PACB stock opened at $2.10 on Monday. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $7.85. The company’s 50 day moving average price is $1.99 and its 200 day moving average price is $1.80. 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 capitalization of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday. Scotiabank decreased 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 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 target price for the company. in a report 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 stock a “neutral” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.95.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently modified their holdings of PACB. Rhumbline Advisers grew its stake in shares of Pacific Biosciences of California by 13.4% during the second quarter. Rhumbline Advisers now owns 436,868 shares of the biotechnology company’s stock worth $598,000 after purchasing an additional 51,727 shares in the last quarter. Daiwa Securities Group Inc. boosted 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 acquiring an additional 9,516 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Pacific Biosciences of California in the 2nd quarter valued at about $612,000. Hsbc Holdings PLC raised its position in shares of Pacific Biosciences of California by 71.2% during the 2nd quarter. Hsbc Holdings PLC now owns 79,122 shares of the biotechnology company’s stock worth $106,000 after acquiring an additional 32,899 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Pacific Biosciences of California by 5,755.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 141,830 shares of the biotechnology company’s stock worth $194,000 after acquiring an additional 139,408 shares in the last quarter.

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.