Pacific Biosciences of California Sees Unusually High Options Volume (NASDAQ:PACB)

Pacific Biosciences of California, Inc. (NASDAQ:PACB) was the target of some unusual options trading on Tuesday. Stock investors acquired 5,062 call options on the company. This represents an increase of 73% compared to the average daily volume of 2,927 call options.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PACB shares. Canaccord Genuity Group lowered their price target on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 price target on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Scotiabank cut their price objective on 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 report on Tuesday, November 12th. Finally, 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. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.63.

Institutional Investors Weigh In On Pacific Biosciences of California

Institutional investors and hedge funds have recently modified their holdings of the stock. Atom Investors LP acquired a new position in Pacific Biosciences of California during the third quarter valued at $30,000. Water Island Capital LLC raised its position in Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 9,537 shares during the period. Simplicity Wealth LLC bought a new stake in Pacific Biosciences of California during the 2nd quarter valued at approximately $29,000. Atria Investments Inc boosted its stake in Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 10,138 shares during the period. Finally, Centiva Capital LP bought a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $40,000.

Pacific Biosciences of California Price Performance

Shares of Pacific Biosciences of California stock traded down $0.05 on Tuesday, reaching $1.88. 809,797 shares of the company were exchanged, compared to its average volume of 9,580,229. The stock has a fifty day moving average price of $1.90 and a 200-day moving average price of $1.76. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California has a fifty-two week low of $1.16 and a fifty-two week high of $10.65.

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.