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 firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now 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 filing with the SEC, which is available at this link.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ:PACB remained flat at $2.10 during mid-day trading on Friday. 13,239,639 shares of the company were exchanged, compared to its average volume of 10,026,139. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $7.85. 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 company has a market cap of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. The stock has a fifty day moving average of $2.00 and a 200 day moving average of $1.79.

Hedge Funds Weigh In On Pacific Biosciences of California

Several institutional investors and hedge funds have recently made changes to their positions in PACB. Water Island Capital LLC raised its holdings in shares of Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 9,537 shares during the period. Atom Investors LP bought a new stake in shares of Pacific Biosciences of California in the 3rd quarter valued at about $30,000. Atria Investments Inc lifted its position in shares of Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares during the last quarter. Centiva Capital LP acquired a new stake in Pacific Biosciences of California during the 3rd quarter valued at $40,000. Finally, Ballentine Partners LLC bought a new position in Pacific Biosciences of California during the third quarter worth $43,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PACB shares. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday, November 11th. Piper Sandler upped their price target on 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. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Thursday. Finally, Scotiabank cut their target price 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 report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and an average target price of $2.95.

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.