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

StockNews.com upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a sell rating in a research report report published on Thursday morning.

Other equities research analysts have also issued reports about the company. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. Scotiabank decreased their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. Finally, UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.95.

Pacific Biosciences of California Stock Performance

PACB stock opened at $2.10 on Thursday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm has a market cap of $575.11 million, a PE ratio of -1.44 and a beta of 1.95. The business has a 50 day moving average of $2.00 and a 200-day moving average of $1.79. Pacific Biosciences of California has a 12-month low of $1.16 and a 12-month high of $8.48.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its position in shares of Pacific Biosciences of California by 0.6% in the third quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock valued at $56,791,000 after purchasing an additional 193,947 shares in the last quarter. Geode Capital Management LLC boosted its stake in Pacific Biosciences of California by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after purchasing an additional 225,034 shares during the period. State Street Corp grew its holdings in Pacific Biosciences of California by 5.7% during the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after buying an additional 340,766 shares in the last quarter. Soros Fund Management LLC increased its position in shares of Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after buying an additional 400,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Pacific Biosciences of California by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock worth $3,469,000 after buying an additional 82,807 shares in the last quarter.

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.