Stock Traders Purchase Large Volume of Pacific Biosciences of California Call Options (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the recipient of unusually large options trading on Tuesday. Investors purchased 5,062 call options on the stock. This represents an increase of 73% compared to the average volume of 2,927 call options.

Analysts Set New Price Targets

A number of research firms have issued reports on PACB. UBS Group cut 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 note on Monday, November 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Scotiabank cut their price target on shares of 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. Finally, Piper Sandler raised 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.63.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of hedge funds have recently made changes to their positions in PACB. Water Island Capital LLC increased 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 buying an additional 9,537 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Pacific Biosciences of California during the 2nd quarter valued at $29,000. Atom Investors LP bought a new position in Pacific Biosciences of California in the 3rd quarter valued at $30,000. Impact Partnership Wealth LLC acquired a new position in Pacific Biosciences of California in the second quarter worth $37,000. Finally, Atria Investments Inc grew its holdings in shares of 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 worth $37,000 after purchasing an additional 10,138 shares during the last quarter.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $1.83 on Wednesday. The business has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $1.76. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California has a one year low of $1.16 and a one year high of $10.65.

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.