Oppenheimer & Co. Inc. Decreases Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the biotechnology company’s stock after selling 2,125 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Pacific Biosciences of California were worth $88,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PACB. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Pacific Biosciences of California by 15.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,101 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 2,347 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Pacific Biosciences of California by 24.5% during the second quarter. Los Angeles Capital Management LLC now owns 27,471 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 5,410 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Pacific Biosciences of California by 2.3% during the second quarter. Nikko Asset Management Americas Inc. now owns 14,345,485 shares of the biotechnology company’s stock valued at $60,968,000 after purchasing an additional 324,280 shares in the last quarter. Carret Asset Management LLC bought a new position in shares of Pacific Biosciences of California during the second quarter valued at approximately $53,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Pacific Biosciences of California by 22.8% during the second quarter. Handelsbanken Fonder AB now owns 36,100 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 6,700 shares in the last quarter.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Susan G. Kim sold 12,968 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $5.61, for a total value of $72,750.48. Following the completion of the transaction, the insider now owns 163,488 shares of the company’s stock, valued at $917,167.68. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Pacific Biosciences of California news, insider Susan G. Kim sold 12,968 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $5.61, for a total value of $72,750.48. Following the completion of the transaction, the insider now owns 163,488 shares of the company’s stock, valued at $917,167.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian O. Henry sold 91,307 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $5.78, for a total transaction of $527,754.46. Following the completion of the transaction, the insider now directly owns 688,551 shares of the company’s stock, valued at approximately $3,979,824.78. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PACB shares. Cowen dropped their price objective on shares of Pacific Biosciences of California to $8.00 in a research note on Tuesday, August 9th. Canaccord Genuity Group increased their price objective on shares of Pacific Biosciences of California from $12.00 to $14.00 in a research note on Wednesday, November 16th. Finally, Piper Sandler increased their price objective on shares of Pacific Biosciences of California from $6.00 to $11.00 in a research note on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pacific Biosciences of California has an average rating of “Hold” and a consensus target price of $18.40.

Pacific Biosciences of California Trading Down 0.2 %

NASDAQ:PACB opened at $10.61 on Monday. Pacific Biosciences of California, Inc. has a 52 week low of $3.85 and a 52 week high of $27.22. The firm has a 50 day moving average of $7.32 and a 200 day moving average of $6.09. The company has a quick ratio of 10.66, a current ratio of 11.19 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -7.92 and a beta of 1.43.

Pacific Biosciences of California Profile

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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

See Also

Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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