UBS Group Upgrades Pacific Biosciences of California (NASDAQ:PACB) to “Hold”

UBS Group upgraded shares of Pacific Biosciences of California (NASDAQ:PACB) to a hold rating in a report released on Sunday,Zacks.com reports.

Several other analysts have also weighed in on the company. Canaccord Genuity Group decreased their price objective on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Morgan Stanley cut their target price on 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. Piper Sandler raised their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday. Finally, Scotiabank cut their target price on 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB opened at $1.98 on Friday. Pacific Biosciences of California has a 1-year low of $1.16 and a 1-year high of $10.65. The firm has a market capitalization of $539.61 million, a PE ratio of -1.36 and a beta of 2.01. The business’s 50 day moving average is $1.91 and its 200-day moving average is $1.77. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pacific Biosciences of California

A number of large investors have recently bought and sold shares of the business. Clear Harbor Asset Management LLC boosted its stake in Pacific Biosciences of California by 4.4% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 5,000 shares during the last quarter. Swiss National Bank grew its position in shares of Pacific Biosciences of California by 1.3% during the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock valued at $1,782,000 after purchasing an additional 6,200 shares in the last quarter. Creative Planning grew its position 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 acquiring an additional 7,629 shares in the last quarter. Headlands Technologies LLC bought a new stake in Pacific Biosciences of California in the first quarter worth $32,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after acquiring an additional 9,516 shares during the last quarter.

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.