Charles Schwab Investment Management Inc. Acquires 82,807 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Charles Schwab Investment Management Inc. boosted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,040,303 shares of the biotechnology company’s stock after purchasing an additional 82,807 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Pacific Biosciences of California worth $3,469,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Intech Investment Management LLC bought a new stake in shares of Pacific Biosciences of California in the 3rd quarter valued at about $190,000. Atria Investments Inc lifted its position in Pacific Biosciences of California by 85.7% in 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. ARK Investment Management LLC lifted its position in Pacific Biosciences of California by 0.6% in the third quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock valued at $56,791,000 after purchasing an additional 193,947 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Pacific Biosciences of California by 60.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 54,335 shares of the biotechnology company’s stock valued at $92,000 after purchasing an additional 20,417 shares during the period. Finally, Carret Asset Management LLC grew its holdings in shares of Pacific Biosciences of California by 110.1% in the third quarter. Carret Asset Management LLC now owns 163,000 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 85,400 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler increased 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. Scotiabank dropped their target price on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report 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 report on Monday, November 11th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.95.

Pacific Biosciences of California Trading Down 4.2 %

PACB opened at $1.96 on Friday. The stock has a market cap of $536.77 million, a PE ratio of -1.34 and a beta of 1.95. The business has a 50 day moving average of $1.98 and a 200-day moving average of $1.77. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $10.65. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California 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.