Pictet Asset Management SA Reduces Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Pictet Asset Management SA decreased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) by 90.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,400 shares of the biotechnology company’s stock after selling 118,320 shares during the period. Pictet Asset Management SA’s holdings in Pacific Biosciences of California were worth $55,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PACB. Versor Investments LP acquired a new position in shares of Pacific Biosciences of California during the second quarter worth $44,000. Interchange Capital Partners LLC acquired a new position in shares of Pacific Biosciences of California during the 1st quarter worth about $102,000. Integrity Advisory LLC acquired a new stake in Pacific Biosciences of California in the 1st quarter valued at about $103,000. Portland Investment Counsel Inc. acquired a new stake in Pacific Biosciences of California in the 1st quarter valued at about $109,000. Finally, Carret Asset Management LLC acquired a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth approximately $53,000.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Pacific Biosciences of California Trading Down 2.5 %

Shares of PACB opened at $10.35 on Friday. The company has a current ratio of 11.19, a quick ratio of 10.66 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average is $7.64 and its two-hundred day moving average is $6.21. Pacific Biosciences of California, Inc. has a twelve month low of $3.85 and a twelve month high of $23.87. The firm has a market capitalization of $2.34 billion, a P/E ratio of -7.72 and a beta of 1.43.

Pacific Biosciences of California Company 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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