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

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

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday. Morgan Stanley decreased their price objective on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 target price on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group cut their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Stock Down 10.2 %

PACB stock opened at $1.98 on Friday. The company has a market capitalization of $539.61 million, a P/E ratio of -1.36 and a beta of 2.01. The firm has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $1.77. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $10.65.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 directly owns 869,730 shares in the company, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in Pacific Biosciences of California in the second quarter valued at about $719,000. Quantbot Technologies LP boosted its holdings 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 during the last quarter. Assenagon Asset Management S.A. bought a new position in Pacific Biosciences of California in the second quarter valued at about $1,775,000. Cetera Advisors LLC bought a new position in Pacific Biosciences of California in the first quarter valued at about $98,000. Finally, Marshall Wace LLP boosted its holdings 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 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.