Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Oene Mark Van Sells 38,011 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Pacific Biosciences of California Stock Down 6.9 %

PACB traded down $0.11 during mid-day trading on Tuesday, reaching $1.49. 5,395,417 shares of the stock were exchanged, compared to its average volume of 9,799,416. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $11.96. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.36 and a current ratio of 8.01. The stock has a market capitalization of $406.07 million, a PE ratio of -1.40 and a beta of 2.05. The company has a 50 day moving average price of $1.63 and a two-hundred day moving average price of $2.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a report on Monday, June 3rd. They issued a “buy” rating and a $4.00 price target for the company. Piper Sandler decreased their target price on Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Morgan Stanley dropped their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Finally, Barclays decreased their price objective on Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average target price of $4.58.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PACB. Water Island Capital LLC grew its position in 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. Simplicity Wealth LLC purchased a new position in shares of Pacific Biosciences of California in the 2nd quarter worth approximately $29,000. Headlands Technologies LLC purchased a new position in shares of Pacific Biosciences of California in the 1st quarter worth approximately $32,000. Impact Partnership Wealth LLC bought a new position in shares of Pacific Biosciences of California in the second quarter valued at approximately $37,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Pacific Biosciences of California during the first quarter worth $38,000.

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.