Wealth Enhancement Advisory Services LLC Sells 34,481 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 36.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 60,792 shares of the biotechnology company’s stock after selling 34,481 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pacific Biosciences of California were worth $103,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC lifted its position in shares of Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 5,000 shares during the period. Swiss National Bank lifted its holdings in 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 buying an additional 6,200 shares during the period. Creative Planning boosted its position in Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 7,629 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth about $32,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Pacific Biosciences of California by 4.2% in the 2nd 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 in the last quarter.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the transaction, the insider now directly owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PACB shares. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday. Scotiabank lowered 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 note on Monday. Piper Sandler raised their price target on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Monday. Canaccord Genuity Group dropped their price objective 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, Morgan Stanley reduced their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.63.

Pacific Biosciences of California Stock Down 10.4 %

Shares of NASDAQ:PACB opened at $2.21 on Wednesday. The stock has a market cap of $600.93 million, a price-to-earnings ratio of -1.51 and a beta of 2.01. The business’s 50 day moving average is $1.89 and its 200 day moving average is $1.76. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $10.65. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81.

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.