Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Oene Mark Van Sells 34,405 Shares

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $2.10 on Friday. The stock has a market cap of $575.11 million, a PE ratio of -1.44 and a beta of 1.95. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $7.85. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The stock’s 50-day moving average is $2.00 and its two-hundred day moving average is $1.79.

Institutional Trading of Pacific Biosciences of California

Institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its position in Pacific Biosciences of California by 30.8% in the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Pacific Biosciences of California by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock worth $322,000 after acquiring an additional 9,516 shares during the last quarter. Water Island Capital LLC raised its holdings in shares of Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 9,537 shares in the last quarter. Atria Investments Inc boosted its position 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 valued at $37,000 after purchasing an additional 10,138 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its stake in Pacific Biosciences of California by 44.7% in the third quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 12,093 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PACB shares. Piper Sandler increased their price target on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. Scotiabank dropped their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. UBS Group lowered 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 report on Monday, November 11th. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.95.

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.