Fmr LLC Has $694,000 Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

FMR LLC grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 641.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,151 shares of the biotechnology company's stock after buying an additional 353,092 shares during the period. FMR LLC owned 0.15% of Pacific Biosciences of California worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Water Island Capital LLC increased its stake 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. Atria Investments Inc raised its stake in shares of Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company's stock worth $37,000 after buying an additional 10,138 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Pacific Biosciences of California in the third quarter valued at $43,000. Impact Partnership Wealth LLC acquired a new position in Pacific Biosciences of California during the second quarter worth about $37,000. Finally, Creative Planning grew its holdings in Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 7,629 shares during the period.

Pacific Biosciences of California Stock Down 6.1 %

Pacific Biosciences of California stock traded down $0.12 during trading hours on Wednesday, hitting $1.85. The company had a trading volume of 6,150,123 shares, compared to its average volume of 9,608,803. The firm's fifty day moving average is $1.99 and its 200-day moving average is $1.77. The firm has a market capitalization of $506.65 million, a P/E ratio of -1.27 and a beta of 1.95. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PACB. Scotiabank lowered their price objective 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. Piper Sandler lifted 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 research report on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a report on Tuesday, November 12th. Finally, UBS Group downgraded Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price objective on the stock. in a report on Monday, November 11th. One 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 MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.95.

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.