Pacific Biosciences of California (NASDAQ:PACB) Rating Increased to Hold at UBS Group

UBS Group upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a hold rating in a research report released on Sunday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Piper Sandler boosted their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley cut their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Finally, Scotiabank cut 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 report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus target price of $3.63.

Pacific Biosciences of California Trading Down 10.2 %

Shares of Pacific Biosciences of California stock opened at $1.98 on Friday. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. The firm has a market cap of $539.61 million, a price-to-earnings ratio of -1.36 and a beta of 2.01. The business has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $1.77. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $10.65.

Insiders Place Their Bets

In other 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 completion of the sale, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 completion of the sale, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

Several large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at approximately $1,775,000. Marshall Wace LLP grew its holdings in Pacific Biosciences of California by 226.6% in 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 during the last quarter. Koss Olinger Consulting LLC acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at approximately $1,096,000. Squarepoint Ops LLC acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at approximately $719,000. Finally, Federated Hermes Inc. acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at approximately $612,000.

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.