Pacific Biosciences of California (NASDAQ:PACB) Stock Rating Lowered by UBS Group

Pacific Biosciences of California (NASDAQ:PACB) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $2.00 price target on the biotechnology company’s stock. UBS Group’s target price would suggest a potential downside of 9.30% from the company’s previous close.

A number of other brokerages also recently weighed in on PACB. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Piper Sandler lifted their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of 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. Finally, Scotiabank decreased their price objective on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ:PACB opened at $2.21 on Monday. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $600.93 million, a price-to-earnings ratio of -1.51 and a beta of 2.01. The firm has a 50 day moving average of $1.89 and a 200 day moving average of $1.76. Pacific Biosciences of California has a 52 week low of $1.16 and a 52 week high of $10.65.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in Pacific Biosciences of California by 330.4% during the 1st quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock valued at $333,000 after acquiring an additional 68,195 shares during the period. SG Americas Securities LLC purchased a new position in shares of Pacific Biosciences of California in the first quarter valued at approximately $80,000. Swiss National Bank grew its holdings in shares of Pacific Biosciences of California by 1.3% in the first 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. Headlands Technologies LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter worth approximately $32,000. Finally, Interchange Capital Partners LLC boosted its position in Pacific Biosciences of California by 53.1% in the 1st quarter. Interchange Capital Partners LLC now owns 28,641 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 9,932 shares during the period.

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.