Oene Mark Van Sells 34,405 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value 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 approximately $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $2.10 on Friday. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $7.85. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm’s fifty day moving average is $1.99 and its 200 day moving average is $1.79. The company has a market cap of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atom Investors LP purchased a new stake in Pacific Biosciences of California during the third quarter valued at approximately $30,000. Water Island Capital LLC raised its holdings in Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 9,537 shares during the period. Atria Investments Inc lifted its position in 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 worth $37,000 after buying an additional 10,138 shares during the last quarter. Centiva Capital LP bought a new stake in Pacific Biosciences of California in the third quarter worth $40,000. Finally, Ballentine Partners LLC purchased a new position in Pacific Biosciences of California during the third quarter worth $43,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PACB. Scotiabank cut their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday, November 11th. Piper Sandler upped their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Monday, November 11th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.