Stock Traders Purchase Large Volume of Call Options on Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) was the target of unusually large options trading on Monday. Stock traders bought 10,101 call options on the company. This represents an increase of 271% compared to the typical volume of 2,719 call options.

Pacific Biosciences of California Price Performance

NASDAQ PACB traded up $0.16 during trading on Monday, reaching $2.46. 15,263,144 shares of the company traded hands, compared to its average volume of 9,550,852. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The company has a market cap of $670.42 million, a price-to-earnings ratio of -1.60 and a beta of 2.01. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The stock's 50 day moving average price is $1.85 and its two-hundred day moving average price is $1.75.

Insider Transactions at Pacific Biosciences of California

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Water Island Capital LLC increased its position in shares of Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 9,537 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of Pacific Biosciences of California in the 2nd quarter worth approximately $29,000. Headlands Technologies LLC bought a new stake in Pacific Biosciences of California during the 1st quarter worth approximately $32,000. Impact Partnership Wealth LLC acquired a new stake in Pacific Biosciences of California during the 2nd quarter valued at $37,000. Finally, Atria Investments Inc raised its position in 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 valued at $37,000 after purchasing an additional 10,138 shares during the last quarter.

Analyst Upgrades and Downgrades

PACB has been the subject of several analyst reports. Scotiabank reduced their price objective on Pacific Biosciences of California from $7.00 to $6.00 and set a "sector outperform" rating for the company in a research report on Monday. Piper Sandler upped their price objective 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. 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 note on Monday. Canaccord Genuity Group decreased their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, August 13th. 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.com, Pacific Biosciences of California presently has a consensus rating of "Hold" and an average target price of $3.63.

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.