Moloney Securities Asset Management LLC Lowers Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Moloney Securities Asset Management LLC reduced its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,000 shares of the biotechnology company’s stock after selling 26,200 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Pacific Biosciences of California were worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Pacific Biosciences of California by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 329,815 shares of the biotechnology company’s stock valued at $452,000 after acquiring an additional 15,567 shares in the last quarter. Creative Planning boosted its holdings 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 valued at $55,000 after purchasing an additional 7,629 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of Pacific Biosciences of California by 54.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 67,364 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 23,619 shares in the last quarter. Impact Partnership Wealth LLC grew its position in shares of Pacific Biosciences of California by 44.7% during the third quarter. Impact Partnership Wealth LLC now owns 39,169 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 12,093 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Pacific Biosciences of California in the third quarter worth about $43,000.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.33 on Wednesday. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $6.83. The firm has a 50-day simple moving average of $1.83 and a two-hundred day simple moving average of $1.80. The company has a market cap of $364.23 million, a P/E ratio of -0.91 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Analysts Set New Price Targets

Several equities analysts have weighed in on PACB shares. Piper Sandler raised their price target 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. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a report on Monday, November 11th. Scotiabank decreased their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 11th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. Finally, The Goldman Sachs Group decreased their target price on shares of Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus target price of $2.89.

Insider Transactions at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

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.