Atria Investments Inc Raises Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Atria Investments Inc increased its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 85.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,968 shares of the biotechnology company’s stock after purchasing an additional 10,138 shares during the period. Atria Investments Inc’s holdings in Pacific Biosciences of California were worth $37,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Pacific Biosciences of California in the first quarter valued at $80,000. Axxcess Wealth Management LLC increased its holdings in Pacific Biosciences of California by 61.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 35,175 shares of the biotechnology company’s stock valued at $132,000 after acquiring an additional 13,382 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $64,000. EMC Capital Management lifted its stake in Pacific Biosciences of California by 159.5% in the 1st quarter. EMC Capital Management now owns 32,700 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 20,100 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter valued at $98,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PACB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Scotiabank lowered 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. Piper Sandler increased their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group reduced their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.63.

Pacific Biosciences of California Price Performance

NASDAQ PACB opened at $1.80 on Monday. Pacific Biosciences of California, Inc. has a 12 month low of $1.16 and a 12 month high of $10.65. The firm has a market capitalization of $492.96 million, a PE ratio of -1.23 and a beta of 2.01. The company’s 50 day simple moving average is $1.91 and its 200 day simple moving average is $1.76. 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 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.