Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,801 shares of the biotechnology company’s stock after selling 84,929 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of Pacific Biosciences of California worth $873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PACB. Water Island Capital LLC boosted its position in Pacific Biosciences of California by 91.1% during the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 9,537 shares during the period. Impact Partnership Wealth LLC acquired a new stake in Pacific Biosciences of California in the second quarter worth about $37,000. Atria Investments Inc grew its position in 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 buying an additional 10,138 shares in the last quarter. Ballentine Partners LLC acquired a new position in Pacific Biosciences of California during the 3rd quarter valued at about $43,000. Finally, Creative Planning raised its position in shares of Pacific Biosciences of California by 30.8% during the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Scotiabank decreased 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 report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler upped their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a report on Monday, November 11th. One equities 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 company’s stock. According to MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $2.95.

Pacific Biosciences of California Trading Up 4.3 %

NASDAQ PACB opened at $1.93 on Friday. The firm’s 50 day moving average price is $2.00 and its two-hundred day moving average price is $1.77. The stock has a market cap of $528.56 million, a price-to-earnings ratio of -1.32 and a beta of 1.95. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $10.65. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California 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.