MetLife Investment Management LLC Sells 33,996 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

MetLife Investment Management LLC reduced its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 22.1% in the third quarter, HoldingsChannel reports. The firm owned 120,163 shares of the biotechnology company’s stock after selling 33,996 shares during the period. MetLife Investment Management LLC’s holdings in Pacific Biosciences of California were worth $204,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC increased its stake in shares of 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 valued at $164,000 after acquiring an additional 5,000 shares in the last quarter. Creative Planning grew its holdings in Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 7,629 shares during the period. Daiwa Securities Group Inc. grew its holdings 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 period. Water Island Capital LLC increased 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 in the last quarter. Finally, Atria Investments Inc raised its holdings in shares of 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 period.

Pacific Biosciences of California Trading Up 2.5 %

Pacific Biosciences of California stock opened at $2.03 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The stock has a market cap of $555.94 million, a P/E ratio of -1.39 and a beta of 1.95. The firm’s fifty day moving average price is $1.93 and its 200-day moving average price is $1.76.

Wall Street Analyst Weigh In

Several analysts have recently commented on PACB shares. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. Scotiabank lowered 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 report on Monday, November 11th. Finally, Morgan Stanley decreased their target price on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average price target 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.