Impact Partnership Wealth LLC Acquires 11,566 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Impact Partnership Wealth LLC raised its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 29.5% in the fourth quarter, HoldingsChannel reports. The firm owned 50,735 shares of the biotechnology company’s stock after acquiring an additional 11,566 shares during the period. Impact Partnership Wealth LLC’s holdings in Pacific Biosciences of California were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PACB. Water Island Capital LLC increased 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 period. PCA Investment Advisory Services Inc. increased its holdings in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the period. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $30,000. Atria Investments Inc increased 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 period. Finally, Centiva Capital LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at $40,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PACB. Scotiabank cut their price target on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. The Goldman Sachs Group dropped their target price 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. Piper Sandler boosted their target price on Pacific Biosciences of California from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note 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 note on Monday, November 11th. One investment 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.89.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.69 on Friday. The stock has a 50-day moving average of $1.89 and a two-hundred day moving average of $1.82. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year 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 stock has a market cap of $462.82 million, a P/E ratio of -1.16 and a beta of 1.95.

Insiders Place Their Bets

In other news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

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.