Fmr LLC Raises Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Fmr LLC boosted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 641.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 408,151 shares of the biotechnology company’s stock after purchasing an additional 353,092 shares during the quarter. Fmr LLC’s holdings in Pacific Biosciences of California were worth $694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PACB. Water Island Capital LLC boosted its position in shares of Pacific Biosciences of California by 91.1% in 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. Impact Partnership Wealth LLC purchased a new position in Pacific Biosciences of California during the second quarter valued at $37,000. Atria Investments Inc boosted its holdings in Pacific Biosciences of California by 85.7% in the third 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 in the last quarter. Ballentine Partners LLC purchased a new stake in shares of Pacific Biosciences of California in the third quarter worth $43,000. Finally, Creative Planning increased its holdings in shares of Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 7,629 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PACB shares. Piper Sandler upped their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. UBS Group downgraded shares of 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 note on Monday, November 11th. Scotiabank reduced their price target on shares of 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, November 11th. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2.95.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $1.97 on Wednesday. The firm has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $1.77. The firm has a market cap of $539.51 million, a PE ratio of -1.35 and a beta of 1.95. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $10.65.

About Pacific Biosciences of California

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.