HighTower Advisors LLC Sells 8,318 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

HighTower Advisors LLC lowered its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 33.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,598 shares of the biotechnology company’s stock after selling 8,318 shares during the quarter. HighTower Advisors LLC’s holdings in Pacific Biosciences of California were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Water Island Capital LLC boosted its position in shares of Pacific Biosciences of California by 91.1% in the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 9,537 shares during the period. Atom Investors LP bought a new position in Pacific Biosciences of California in the 3rd quarter valued at $30,000. Impact Partnership Wealth LLC purchased a new position in shares of Pacific Biosciences of California during the 2nd quarter valued at $37,000. Atria Investments Inc increased its holdings in shares of 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 worth $37,000 after purchasing an additional 10,138 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Pacific Biosciences of California in the third quarter worth $40,000.

Pacific Biosciences of California Stock Down 1.0 %

Shares of NASDAQ:PACB opened at $1.93 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. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The company has a market cap of $528.56 million, a PE ratio of -1.32 and a beta of 1.95. The stock’s 50-day moving average is $2.00 and its 200 day moving average is $1.77.

Analysts Set New Price Targets

A number of brokerages have weighed in on PACB. Piper Sandler upped their target price on 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. Scotiabank decreased their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Finally, UBS Group lowered shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.95.

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.