Geode Capital Management LLC Boosts Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Geode Capital Management LLC grew its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,327,906 shares of the biotechnology company’s stock after purchasing an additional 225,034 shares during the quarter. Geode Capital Management LLC owned about 2.31% of Pacific Biosciences of California worth $10,759,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PACB. Water Island Capital LLC boosted its position 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 worth $27,000 after purchasing an additional 9,537 shares in the last quarter. Atom Investors LP purchased a new stake in Pacific Biosciences of California in the third quarter valued at about $30,000. 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 stake in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Pacific Biosciences of California during the third quarter valued at about $40,000.

Analyst Upgrades and Downgrades

PACB has been the subject of a number of recent analyst reports. Scotiabank lowered 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 research note on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. Piper Sandler boosted their price objective 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. Finally, UBS Group downgraded 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 report on Monday, November 11th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.95.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $1.83 on Wednesday. The firm has a market capitalization of $501.17 million, a P/E ratio of -1.25 and a beta of 1.95. The stock has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $1.77. 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, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $9.99.

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.