Insider Selling: Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells 34,405 Shares of Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB opened at $2.10 on Friday. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $7.85. The business has a fifty day moving average price of $1.99 and a 200 day moving average price of $1.79. The stock has a market capitalization of $575.11 million, a P/E ratio of -1.44 and a beta of 1.95. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Analyst Ratings Changes

A number of research firms have weighed in on PACB. 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 note on Monday, November 11th. Piper Sandler lifted their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.95.

Institutional Trading of Pacific Biosciences of California

Several hedge funds have recently modified their holdings of the company. Marshall Wace LLP increased its position in Pacific Biosciences of California by 226.6% during the 2nd quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock valued at $2,207,000 after buying an additional 1,117,966 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Pacific Biosciences of California during the second quarter worth about $719,000. Federated Hermes Inc. acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at about $612,000. Soros Fund Management LLC raised its position in shares of Pacific Biosciences of California by 23.6% in 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 purchasing an additional 400,000 shares during the last quarter. Finally, FMR LLC raised its position 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 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.