Barclays PLC Boosts Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Barclays PLC boosted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 143.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 595,150 shares of the biotechnology company's stock after acquiring an additional 350,196 shares during the period. Barclays PLC owned about 0.22% of Pacific Biosciences of California worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PACB. FMR LLC lifted its stake in Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after purchasing an additional 353,092 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Pacific Biosciences of California in the second quarter valued at approximately $719,000. State Street Corp lifted its position in Pacific Biosciences of California by 5.7% during the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company's stock worth $10,669,000 after buying an additional 340,766 shares in the last quarter. Soros Fund Management LLC boosted its stake in 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 worth $3,567,000 after buying an additional 400,000 shares during the last quarter. Finally, Senvest Management LLC grew its holdings 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 valued at $1,860,000 after buying an additional 290,000 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on PACB shares. Scotiabank reduced their price target 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. UBS Group downgraded shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price on the stock. in a research note on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, November 12th. Finally, Piper Sandler raised their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Pacific Biosciences of California has an average rating of "Hold" and a consensus target price of $2.95.

Pacific Biosciences of California Trading Up 2.2 %

Pacific Biosciences of California stock traded up $0.04 during trading on Tuesday, hitting $1.83. The company had a trading volume of 7,145,692 shares, compared to its average volume of 9,527,385. The stock has a market cap of $501.17 million, a price-to-earnings ratio of -1.25 and a beta of 1.95. 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 1-year low of $1.16 and a 1-year high of $9.99. The company's 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.77.

Pacific Biosciences of California 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.