Barclays PLC Buys 350,196 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

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

A number of other hedge funds also recently modified their holdings of the stock. Water Island Capital LLC boosted its holdings in shares of Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 9,537 shares in the last quarter. Atom Investors LP acquired a new stake in Pacific Biosciences of California in the third quarter valued at about $30,000. Atria Investments Inc grew its position in Pacific Biosciences of California by 85.7% in 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 last quarter. Centiva Capital LP acquired a new position in Pacific Biosciences of California during the third quarter worth about $40,000. Finally, Ballentine Partners LLC bought a new position in shares of Pacific Biosciences of California in the third quarter worth about $43,000.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company's stock.

Pacific Biosciences of California Trading Down 5.4 %

Shares of Pacific Biosciences of California stock traded down $0.10 during midday trading on Wednesday, reaching $1.75. The company had a trading volume of 16,050,975 shares, compared to its average volume of 10,795,036. The firm has a market cap of $479.26 million, a PE ratio of -1.20 and a beta of 1.95. The stock has a fifty day moving average price of $1.97 and a 200 day moving average price of $1.80. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $7.50.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PACB. Piper Sandler lifted their price target 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. Scotiabank decreased 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 research note on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price target for the company. in a research note on Monday, November 11th. Finally, StockNews.com upgraded Pacific Biosciences of California to a "sell" rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $2.95.

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.