Pacific Biosciences of California (PACB) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Pacific Biosciences of California (NASDAQ: PACB):

• 11/12/2024 – Pacific Biosciences of California was upgraded by analysts at StockNews.com to a “sell” rating.
• 11/11/2024 – Pacific Biosciences of California had its price target lowered by analysts at Scotiabank from $7.00 to $6.00. They now have a “sector outperform” rating on the stock.
• 11/11/2024 – Pacific Biosciences of California was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $2.00 price target on the stock.
• 11/11/2024 – Pacific Biosciences of California had its price target raised by analysts at Piper Sandler from $2.00 to $2.50. They now have a “neutral” rating on the stock.
• 11/10/2024 – Pacific Biosciences of California was upgraded by analysts at UBS Group AG to a “hold” rating.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock traded up $0.07 during midday trading on Monday, reaching $1.87. 466,986 shares of the stock traded hands, compared to its average volume of 9,615,406. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The firm has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $1.76. The firm has a market cap of $512.12 million, a price-to-earnings ratio of -1.28 and a beta of 2.01. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.65.

Institutional Trading of Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clear Harbor Asset Management LLC raised its holdings in shares of Pacific Biosciences of California by 4.4% during the second quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 5,000 shares during the period. Creative Planning raised its holdings in shares of Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 7,629 shares during the period. Daiwa Securities Group Inc. raised its holdings 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 acquiring an additional 9,516 shares during the period. Water Island Capital LLC raised its holdings 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 acquiring an additional 9,537 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 10,138 shares during the period.

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.