Pacific Biosciences of California Sees Unusually Large Options Volume (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB - Get Free Report) was the target of unusually large options trading activity on Friday. Stock investors purchased 10,843 call options on the company. This represents an increase of approximately 193% compared to the typical volume of 3,699 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PACB shares. UBS Group cut shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 price target on the stock. in a research report on Monday, November 11th. Piper Sandler increased their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a "neutral" rating in a report on Monday, November 11th. Scotiabank lowered their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a "sector outperform" rating for the company in a report on Monday, November 11th. Finally, StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.95.

Pacific Biosciences of California Stock Performance

PACB stock traded up $0.19 during mid-day trading on Friday, reaching $1.99. The company had a trading volume of 8,674,858 shares, compared to its average volume of 6,995,029. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $9.51. The stock has a market capitalization of $544.99 million, a P/E ratio of -1.36 and a beta of 1.95. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The stock's 50-day simple moving average is $2.00 and its two-hundred day simple moving average is $1.77.

Institutional Trading of Pacific Biosciences of California

Several hedge funds have recently bought and sold shares of the company. Water Island Capital LLC increased its holdings 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 purchasing an additional 9,537 shares during the period. Atom Investors LP acquired a new position in Pacific Biosciences of California during the 3rd quarter valued at about $30,000. Impact Partnership Wealth LLC bought a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth about $37,000. Atria Investments Inc lifted 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 acquiring an additional 10,138 shares during the period. Finally, Centiva Capital LP bought a new position in shares of Pacific Biosciences of California in the third quarter valued at approximately $40,000.

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.