Virtu Financial LLC cut its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Free Report) by 55.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,752 shares of the biotechnology company’s stock after selling 35,242 shares during the period. Virtu Financial LLC’s holdings in Pacific Biosciences of California were worth $47,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PACB. Water Island Capital LLC boosted its stake in Pacific Biosciences of California by 91.1% during the 2nd 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 during the last quarter. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California during the third quarter valued at approximately $30,000. Impact Partnership Wealth LLC purchased a new position in shares of Pacific Biosciences of California during the second quarter valued at approximately $37,000. Atria Investments Inc grew its holdings 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 worth $37,000 after buying an additional 10,138 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at $40,000.
Analysts Set New Price Targets
PACB has been the subject of several recent analyst reports. Scotiabank reduced their target price 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 note on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler lifted 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. Finally, 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 note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.95.
Pacific Biosciences of California Stock Performance
NASDAQ:PACB opened at $1.97 on Friday. The company has a market capitalization of $539.51 million, a P/E ratio of -1.35 and a beta of 1.95. The business has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $1.77. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65.
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.
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