Pacific Biosciences of California (NASDAQ:PACB) Upgraded by UBS Group to "Hold" Rating

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) was upgraded by investment analysts at UBS Group to a "hold" rating in a note issued to investors on Sunday,Zacks.com reports.

PACB has been the subject of several other reports. Canaccord Genuity Group cut their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Scotiabank lowered their price target 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. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday. 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $3.50 price target on shares of Pacific Biosciences of California in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $3.63.

Pacific Biosciences of California Stock Performance

NASDAQ PACB traded down $0.11 during trading hours on Friday, hitting $1.87. 9,470,763 shares of the company's stock traded hands, compared to its average volume of 9,573,282. The business's fifty day moving average price is $1.91 and its two-hundred day moving average price is $1.77. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $510.97 million, a P/E ratio of -1.36 and a beta of 2.01. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $10.65.

Insider Activity

In related news, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jeff Eidel sold 26,760 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares of the company's stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Oene Mark Van sold 38,011 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Pacific Biosciences of California

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at about $32,000. Kennedy Capital Management LLC bought a new stake in Pacific Biosciences of California during the first quarter valued at about $64,000. Water Island Capital LLC grew its stake in Pacific Biosciences of California by 91.1% in the second 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 during the last quarter. Simplicity Wealth LLC bought a new position in Pacific Biosciences of California in the second quarter worth about $29,000. Finally, SG Americas Securities LLC purchased a new position in shares of Pacific Biosciences of California in the 1st quarter worth approximately $80,000.

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.