Investors Purchase Large Volume of Pacific Biosciences of California Call Options (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) saw some unusual options trading activity on Monday. Stock traders purchased 10,101 call options on the stock. This is an increase of 271% compared to the typical volume of 2,719 call options.

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the sale, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Pacific Biosciences of California

Several large investors have recently bought and sold shares of the stock. Water Island Capital LLC boosted its holdings in shares of Pacific Biosciences of California by 91.1% in the 2nd 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 last quarter. Simplicity Wealth LLC purchased a new stake in shares of Pacific Biosciences of California in the 2nd quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at $32,000. Impact Partnership Wealth LLC purchased a new stake in shares of Pacific Biosciences of California in the 2nd quarter valued at $37,000. Finally, Atria Investments Inc boosted its holdings in shares of Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 10,138 shares during the last quarter.

Pacific Biosciences of California Stock Up 7.0 %

NASDAQ:PACB opened at $2.46 on Tuesday. The company has a market cap of $670.42 million, a PE ratio of -1.68 and a beta of 2.01. Pacific Biosciences of California has a twelve month low of $1.16 and a twelve month high of $10.65. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $1.88 and its two-hundred day moving average is $1.76.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a report on Thursday, August 8th. UBS Group lowered shares of 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. Canaccord Genuity Group reduced their price objective on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, August 12th. Finally, Scotiabank reduced their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.63.

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.