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

Moloney Securities Asset Management LLC cut its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 39.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,000 shares of the biotechnology company’s stock after selling 26,200 shares during the period. Moloney Securities Asset Management LLC’s holdings in Pacific Biosciences of California were worth $75,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PACB. PCA Investment Advisory Services Inc. lifted its position in 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 in the last quarter. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California in the third quarter worth $30,000. Atria Investments Inc boosted its position 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 valued at $37,000 after buying an additional 10,138 shares during the last quarter. Centiva Capital LP bought a new stake in Pacific Biosciences of California in the 3rd quarter worth about $40,000. Finally, Ballentine Partners LLC bought a new stake in Pacific Biosciences of California in the 3rd quarter worth about $43,000.

Insider Buying and Selling

In other news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.

Pacific Biosciences of California Price Performance

NASDAQ PACB opened at $1.33 on Wednesday. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $6.83. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $364.23 million, a P/E ratio of -0.91 and a beta of 1.92. The stock’s 50-day moving average price is $1.83 and its 200-day moving average price is $1.80.

Analysts Set New Price Targets

PACB has been the topic of a number of recent analyst reports. UBS Group downgraded 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. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. Scotiabank decreased 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. Piper Sandler raised their price target 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, The Goldman Sachs Group reduced their price objective on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.89.

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.