Pacific Biosciences of California (NASDAQ:PACB) Rating Increased to Sell at StockNews.com

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by StockNews.com to a “sell” rating in a report issued on Tuesday.

PACB has been the topic of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. Scotiabank decreased their price target on shares of 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. Piper Sandler lifted 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 research note on Monday. Finally, UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Stock Down 10.4 %

Shares of NASDAQ PACB traded down $0.25 during trading on Tuesday, hitting $2.21. The stock had a trading volume of 13,898,391 shares, compared to its average volume of 9,570,616. The company has a market capitalization of $600.93 million, a PE ratio of -1.51 and a beta of 2.01. The firm has a fifty day moving average of $1.88 and a two-hundred day moving average of $1.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. Pacific Biosciences of California has a 12 month low of $1.16 and a 12 month high of $10.65.

Insider Buying and Selling

In other news, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the sale, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Trading of Pacific Biosciences of California

Several hedge funds have recently modified their holdings of the business. Quantbot Technologies LP grew its position in shares of Pacific Biosciences of California by 330.4% in the first quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock valued at $333,000 after purchasing an additional 68,195 shares during the period. SG Americas Securities LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter valued at approximately $80,000. Swiss National Bank grew its position in shares of Pacific Biosciences of California by 1.3% in the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after acquiring an additional 6,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in Pacific Biosciences of California during the 1st quarter valued at approximately $32,000. Finally, Interchange Capital Partners LLC boosted its position in Pacific Biosciences of California by 53.1% during the 1st quarter. Interchange Capital Partners LLC now owns 28,641 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 9,932 shares during the period.

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.