Virtu Financial LLC Reduces Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Virtu Financial LLC trimmed its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 55.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,752 shares of the biotechnology company’s stock after selling 35,242 shares during the period. Virtu Financial LLC’s holdings in Pacific Biosciences of California were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PACB. Creative Planning grew its position in shares of Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 7,629 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Pacific Biosciences of California by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 9,516 shares in the last quarter. Water Island Capital LLC increased its position in shares of 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. Atria Investments Inc lifted its holdings in shares of Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in shares of Pacific Biosciences of California by 44.7% in the third quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 12,093 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on PACB. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, November 12th. UBS Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target on the stock. in a report on Monday, November 11th. Piper Sandler lifted their price objective on Pacific Biosciences of California from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Scotiabank reduced their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $1.97 on Friday. The company has a market capitalization of $539.51 million, a price-to-earnings ratio of -1.35 and a beta of 1.95. The business has a 50 day moving average of $2.00 and a 200 day moving average of $1.77. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $10.65.

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.