Soros Fund Management LLC Grows Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Soros Fund Management LLC grew its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 23.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,098,000 shares of the biotechnology company's stock after buying an additional 400,000 shares during the period. Soros Fund Management LLC owned 0.77% of Pacific Biosciences of California worth $3,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Clear Harbor Asset Management LLC increased its stake in Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company's stock worth $164,000 after acquiring an additional 5,000 shares during the last quarter. Creative Planning grew its holdings in shares of Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Pacific Biosciences of California by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company's stock worth $322,000 after purchasing an additional 9,516 shares during the last quarter. Water Island Capital LLC raised its stake in 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 in the last quarter. Finally, Atria Investments Inc lifted its position in Pacific Biosciences of California by 85.7% during the third 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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 report on Monday, November 11th. Morgan Stanley dropped their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating for the company in a report on Monday, August 12th. UBS Group downgraded Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price on the stock. in a research report on Monday, November 11th. Piper Sandler raised their price target on 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of "Hold" and an average price target of $3.63.

Pacific Biosciences of California Trading Up 2.0 %

PACB traded up $0.04 on Friday, reaching $2.02. 4,111,124 shares of the company traded hands, compared to its average volume of 9,632,516. The company has a market cap of $553.21 million, a P/E ratio of -1.40 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. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year high of $10.65. The firm has a fifty day simple moving average of $1.92 and a two-hundred day simple moving average of $1.76.

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.