PCA Investment Advisory Services Inc. Boosts Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

PCA Investment Advisory Services Inc. raised its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the biotechnology company’s stock after acquiring an additional 5,000 shares during the quarter. PCA Investment Advisory Services Inc.’s holdings in Pacific Biosciences of California were worth $27,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PACB shares. Scotiabank lowered their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Monday, November 11th. Finally, Piper Sandler lifted their price objective on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.95.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $2.01 on Tuesday. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $7.50. The firm has a market capitalization of $550.47 million, a P/E ratio of -1.38 and a beta of 1.95. The stock has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $1.80. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

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.