Barclays PLC Has $1.01 Million Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Barclays PLC lifted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 143.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 595,150 shares of the biotechnology company’s stock after purchasing an additional 350,196 shares during the period. Barclays PLC owned 0.22% of Pacific Biosciences of California worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PACB. ARK Investment Management LLC raised its holdings in Pacific Biosciences of California by 0.6% in the 3rd quarter. ARK Investment Management LLC now owns 33,406,401 shares of the biotechnology company’s stock valued at $56,791,000 after acquiring an additional 193,947 shares during the period. Geode Capital Management LLC boosted its stake in shares of Pacific Biosciences of California by 3.7% in the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock valued at $10,759,000 after buying an additional 225,034 shares during the period. State Street Corp grew its position in Pacific Biosciences of California by 5.7% during the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after buying an additional 340,766 shares in the last quarter. Soros Fund Management LLC raised its holdings in Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pacific Biosciences of California by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock valued at $3,469,000 after acquiring an additional 82,807 shares during the period.

Pacific Biosciences of California Stock Down 8.0 %

Shares of NASDAQ:PACB opened at $1.85 on Wednesday. The firm has a market cap of $506.65 million, a P/E ratio of -1.27 and a beta of 1.95. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $7.50. The business has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $1.80. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Wall Street Analysts Forecast Growth

PACB has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a 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 cut shares of 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. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.95.

Insider Activity

In other news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.40% of the company’s stock.

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.