Assenagon Asset Management S.A. Has $390,000 Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Assenagon Asset Management S.A. cut its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,091 shares of the biotechnology company’s stock after selling 68,796 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Pacific Biosciences of California worth $390,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its holdings in Pacific Biosciences of California by 641.3% during the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after purchasing an additional 353,092 shares during the last quarter. Squarepoint Ops LLC bought a new position in Pacific Biosciences of California during the 2nd quarter worth $719,000. State Street Corp increased its position in shares of Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after purchasing an additional 340,766 shares during the period. Soros Fund Management LLC raised its position in shares of 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 buying an additional 400,000 shares in the last quarter. Finally, Barclays PLC lifted its stake in Pacific Biosciences of California by 143.0% during the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after purchasing an additional 350,196 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on PACB. Piper Sandler lifted 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 report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Thursday, January 9th. Scotiabank dropped their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. The Goldman Sachs Group cut their price target on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research note on Thursday. Finally, UBS Group downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.89.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Pacific Biosciences of California Stock Up 2.4 %

Shares of NASDAQ PACB opened at $1.69 on Friday. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $7.50. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The company’s 50 day moving average price is $1.89 and its 200-day moving average price is $1.82. The company has a market capitalization of $462.82 million, a P/E ratio of -1.16 and a beta of 1.95.

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.