Fmr LLC Raises Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Fmr LLC increased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 641.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 408,151 shares of the biotechnology company’s stock after buying an additional 353,092 shares during the period. Fmr LLC owned 0.15% of Pacific Biosciences of California worth $694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PACB. Squarepoint Ops LLC bought a new stake in Pacific Biosciences of California during the second quarter worth about $719,000. Senvest Management LLC lifted its position in Pacific Biosciences of California by 36.1% in the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after buying an additional 290,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Pacific Biosciences of California in the second quarter worth approximately $1,775,000. Marshall Wace LLP grew its position 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 valued at $2,207,000 after acquiring an additional 1,117,966 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Pacific Biosciences of California during the second quarter worth approximately $612,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler increased their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating 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 price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. Finally, UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average target price of $2.95.

Pacific Biosciences of California Stock Down 3.9 %

Shares of NASDAQ PACB opened at $1.97 on Wednesday. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a 12 month low of $1.16 and a 12 month high of $10.65. The firm has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $1.77. The firm has a market capitalization of $539.51 million, a PE ratio of -1.35 and a beta of 1.95.

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.