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 on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $2.10 on Friday. 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 has a market cap of $575.11 million, a P/E ratio of -1.44 and a beta of 1.95. The company has a fifty day moving average price of $2.00 and a 200 day moving average price of $1.79. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year high of $7.85.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PACB shares. UBS Group downgraded shares of 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. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Thursday. Scotiabank decreased 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, November 11th. Finally, Piper Sandler lifted their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Monday, November 11th. One 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’s stock. Based on data from MarketBeat, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus price target of $2.95.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in Pacific Biosciences of California by 21.5% during the fourth quarter. Nordea Investment Management AB now owns 517,185 shares of the biotechnology company’s stock valued at $915,000 after acquiring an additional 91,559 shares during the period. JPMorgan Chase & Co. increased its position in shares of Pacific Biosciences of California by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 564,507 shares of the biotechnology company’s stock valued at $960,000 after purchasing an additional 45,957 shares during the period. Franklin Resources Inc. acquired a new position in shares of Pacific Biosciences of California in the third quarter valued at $302,000. Barclays PLC lifted its position in Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Pacific Biosciences of California by 3.7% during the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after buying an additional 225,034 shares in the last quarter.

Pacific Biosciences of California Company 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.