State Street Corp Boosts Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

State Street Corp lifted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,276,156 shares of the biotechnology company's stock after acquiring an additional 340,766 shares during the period. State Street Corp owned 2.29% of Pacific Biosciences of California worth $10,669,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new position in Pacific Biosciences of California in the third quarter valued at $40,000. Benjamin Edwards Inc. lifted its holdings in shares of Pacific Biosciences of California by 12,341.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 123,547 shares of the biotechnology company's stock valued at $210,000 after purchasing an additional 122,554 shares during the last quarter. Atom Investors LP acquired a new stake in shares of Pacific Biosciences of California in the 3rd quarter valued at about $30,000. Paloma Partners Management Co purchased a new position in Pacific Biosciences of California during the 3rd quarter worth approximately $63,000. Finally, FMR LLC increased its position in Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after buying an additional 353,092 shares during the period.

Pacific Biosciences of California Price Performance

NASDAQ:PACB traded down $0.07 during trading hours on Friday, hitting $1.86. The company's stock had a trading volume of 7,176,932 shares, compared to its average volume of 9,552,601. The company has a market capitalization of $509.39 million, a PE ratio of -1.27 and a beta of 1.95. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $10.39. The business's 50-day moving average is $2.00 and its two-hundred day moving average is $1.77. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, November 12th. Scotiabank dropped 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. UBS Group cut shares of Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price for the company. in a report on Monday, November 11th. Finally, 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 report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Pacific Biosciences of California has a consensus rating of "Hold" and an average target price of $2.95.

Pacific Biosciences of California 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.