PCA Investment Advisory Services Inc. Boosts Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

PCA Investment Advisory Services Inc. lifted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 50.0% in the fourth quarter, Holdings Channel reports. The firm owned 15,000 shares of the biotechnology company’s stock after buying an additional 5,000 shares during the period. PCA Investment Advisory Services Inc.’s holdings in Pacific Biosciences of California were worth $27,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in Pacific Biosciences of California by 0.6% during the 3rd quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock valued at $56,791,000 after acquiring an additional 193,947 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pacific Biosciences of California by 3.7% in the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock valued at $10,759,000 after purchasing an additional 225,034 shares during the last quarter. State Street Corp lifted its position in Pacific Biosciences of California by 5.7% during the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after buying an additional 340,766 shares in the last quarter. Soros Fund Management LLC boosted its stake in Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after buying an additional 400,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Pacific Biosciences of California by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock valued at $3,469,000 after buying an additional 82,807 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction 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 directly owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PACB has been the topic of several analyst reports. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a report on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. Scotiabank cut their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. Finally, Piper Sandler increased their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.95.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $2.01 on Tuesday. 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 cap of $550.47 million, a P/E ratio of -1.38 and a beta of 1.95. The stock has a 50-day moving average of $1.98 and a two-hundred day moving average of $1.80. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $7.50.

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.