Pacific Biosciences of California (NASDAQ:PACB) Stock Rating Upgraded by UBS Group

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by investment analysts at UBS Group to a “hold” rating in a report released on Sunday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank lowered 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 research report on Monday. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday. Piper Sandler increased their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday. Cantor Fitzgerald reissued 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. Finally, Canaccord Genuity Group decreased their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus target price of $3.63.

Pacific Biosciences of California Price Performance

Shares of PACB stock opened at $1.98 on Friday. The company’s 50-day simple moving average is $1.91 and its two-hundred day simple moving average is $1.77. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $10.65. The company has a market capitalization of $539.61 million, a P/E ratio of -1.36 and a beta of 2.01. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14.

Insider Transactions at Pacific Biosciences of California

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in Pacific Biosciences of California in the second quarter valued at approximately $719,000. Quantbot Technologies LP grew its position in 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 acquiring an additional 68,195 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Pacific Biosciences of California in the second quarter valued at approximately $1,775,000. Cetera Advisors LLC acquired a new stake in Pacific Biosciences of California in the first quarter valued at approximately $98,000. Finally, Marshall Wace LLP grew its position in Pacific Biosciences of California by 226.6% in the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock valued at $2,207,000 after acquiring an additional 1,117,966 shares in the last quarter.

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.