Insider Selling: Pacific Biosciences of California, Inc. (NASDAQ:PACB) Insider Sells 34,405 Shares of Stock

Pacific Biosciences of California, Inc. (NASDAQ:PACB) insider Oene Mark Van sold 34,405 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Pacific Biosciences of California Price Performance

PACB stock remained flat at $2.10 during trading on Friday. 13,239,639 shares of the company were exchanged, compared to its average volume of 10,026,139. The company has a market capitalization of $575.11 million, a P/E ratio of -1.44 and a beta of 1.95. 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 business’s fifty day moving average is $2.00 and its 200-day moving average is $1.79. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $7.85.

Analyst Upgrades and Downgrades

PACB has been the subject of several analyst reports. 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 note on Monday, November 11th. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research report on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Thursday. Finally, Scotiabank cut their price objective 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 report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.95.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PACB. FMR LLC grew its position in shares of Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock valued at $694,000 after buying an additional 353,092 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Pacific Biosciences of California during the second quarter valued at about $719,000. State Street Corp boosted its holdings in Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after acquiring an additional 340,766 shares in the last quarter. Soros Fund Management LLC grew its position in Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after purchasing an additional 400,000 shares during the period. Finally, Barclays PLC grew its holdings in shares of Pacific Biosciences of California by 143.0% during the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after buying an additional 350,196 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.