Pacific Biosciences of California (NASDAQ:PACB) Upgraded at UBS Group

UBS Group upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a hold rating in a report published on Sunday morning,Zacks.com reports.

PACB has been the subject of a number of other research reports. Scotiabank cut 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 report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their price objective on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley reduced their target price 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. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Trading Up 2.5 %

Shares of PACB stock opened at $2.03 on Friday. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $10.65. The stock has a market cap of $553.24 million, a price-to-earnings ratio of -1.36 and a beta of 2.01. The company’s 50-day moving average price is $1.91 and its 200-day moving average price is $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.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the transaction, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the company’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 sale, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The trade was 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in Pacific Biosciences of California during the 2nd quarter valued at $719,000. Quantbot Technologies LP increased its stake in Pacific Biosciences of California by 330.4% during the first quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock valued at $333,000 after purchasing an additional 68,195 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Pacific Biosciences of California during the second quarter worth $1,775,000. Cetera Advisors LLC bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $98,000. Finally, Marshall Wace LLP raised its stake in Pacific Biosciences of California by 226.6% during the second quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after acquiring an additional 1,117,966 shares during the period.

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.