Pacific Biosciences of California (NASDAQ:PACB) Stock Rating Upgraded by StockNews.com

Pacific Biosciences of California (NASDAQ:PACB) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also weighed in on PACB. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research report on Monday, November 11th. Scotiabank dropped their target price on shares of 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, Piper Sandler boosted 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 research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.95.

Pacific Biosciences of California Stock Up 5.0 %

Shares of Pacific Biosciences of California stock traded up $0.10 on Thursday, reaching $2.10. The company’s stock had a trading volume of 13,301,742 shares, compared to its average volume of 9,382,039. The company has a market capitalization of $575.11 million, a price-to-earnings ratio of -1.44 and a beta of 1.95. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $8.48. The firm’s fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $1.79.

Institutional Trading of Pacific Biosciences of California

Several institutional investors and hedge funds have recently modified their holdings of PACB. Marshall Wace LLP boosted its stake in Pacific Biosciences of California by 226.6% in the 2nd quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after purchasing an additional 1,117,966 shares during the period. Squarepoint Ops LLC bought a new position in shares of Pacific Biosciences of California during the 2nd quarter valued at about $719,000. Federated Hermes Inc. purchased a new position in shares of Pacific Biosciences of California during the second quarter valued at about $612,000. Soros Fund Management LLC increased its stake in Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after acquiring an additional 400,000 shares during the last quarter. Finally, FMR LLC raised its stake in Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after purchasing an additional 353,092 shares in the last quarter.

About Pacific Biosciences of California

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.