Stock Traders Purchase High Volume of Call Options on Pacific Biosciences of California (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 10,843 call options on the stock. This represents an increase of approximately 193% compared to the average volume of 3,699 call options.

Pacific Biosciences of California Trading Up 10.6 %

Shares of Pacific Biosciences of California stock opened at $1.99 on Friday. The company’s fifty day moving average price is $2.00 and its two-hundred day moving average price is $1.77. The firm has a market capitalization of $544.99 million, a PE ratio of -1.36 and a beta of 1.95. Pacific Biosciences of California has a 52-week low of $1.16 and a 52-week high of $9.51. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Institutional Investors Weigh In On Pacific Biosciences of California

Several large investors have recently modified their holdings of PACB. 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 worth $27,000 after acquiring an additional 9,537 shares in the last quarter. Atom Investors LP bought a new position in Pacific Biosciences of California in the 3rd quarter valued at $30,000. Impact Partnership Wealth LLC acquired a new position in Pacific Biosciences of California in the second quarter worth $37,000. Atria Investments Inc raised its holdings in shares of 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 valued at $37,000 after buying an additional 10,138 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in Pacific Biosciences of California during the 3rd quarter worth about $40,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PACB shares. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, November 12th. Scotiabank cut 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 report 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 price target on the stock. in a report on Monday, November 11th. Finally, Piper Sandler increased their target price on shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $2.95.

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.