Pacific Biosciences of California Sees Unusually Large Options Volume (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) saw some unusual options trading on Friday. Investors acquired 10,843 call options on the stock. This represents an increase of 193% compared to the typical volume of 3,699 call options.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB opened at $1.99 on Friday. The stock has a market cap of $544.99 million, a price-to-earnings ratio of -1.36 and a beta of 1.95. 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 has a 12 month low of $1.16 and a 12 month high of $9.51. The stock’s 50 day moving average price is $2.00 and its 200 day moving average price is $1.77.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PACB. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Scotiabank reduced their target price on 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. UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a report on Monday, November 11th. Finally, Piper Sandler raised their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average price target of $2.95.

Institutional Investors Weigh In On Pacific Biosciences of California

A number of institutional investors and hedge funds have recently bought and sold shares of PACB. Atom Investors LP acquired a new position in Pacific Biosciences of California in the third quarter worth approximately $30,000. Water Island Capital LLC lifted its stake in 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 valued at $27,000 after buying an additional 9,537 shares in the last quarter. Atria Investments Inc boosted 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 buying an additional 10,138 shares during the period. Centiva Capital LP acquired a new stake in shares of Pacific Biosciences of California during the third quarter valued at approximately $40,000. Finally, Ballentine Partners LLC acquired a new position in Pacific Biosciences of California in the 3rd quarter worth approximately $43,000.

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.