Senvest Management LLC Purchases 290,000 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Senvest Management LLC grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 36.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,093,954 shares of the biotechnology company’s stock after purchasing an additional 290,000 shares during the quarter. Senvest Management LLC’s holdings in Pacific Biosciences of California were worth $1,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC grew its position in shares of Pacific Biosciences of California by 4.4% in the second quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 5,000 shares in the last quarter. Creative Planning grew its holdings in Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 9,516 shares during the period. Water Island Capital LLC increased its position in shares of 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 buying an additional 9,537 shares during the period. Finally, Atria Investments Inc lifted its holdings in shares of 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 in the last quarter.

Pacific Biosciences of California Stock Up 1.7 %

Shares of PACB opened at $1.80 on Friday. The firm has a market cap of $492.96 million, a P/E ratio of -1.23 and a beta of 2.01. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The stock has a 50 day simple moving average of $1.91 and a two-hundred day simple moving average of $1.76. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a report on Thursday, August 8th. UBS Group cut 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 report on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, November 12th. Scotiabank decreased 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 note on Monday, November 11th. Finally, Morgan Stanley dropped their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. One 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.63.

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.