Arete Wealth Advisors LLC Sells 16,748 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Arete Wealth Advisors LLC lowered its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,172 shares of the biotechnology company’s stock after selling 16,748 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Pacific Biosciences of California were worth $114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atom Investors LP acquired a new position in shares of Pacific Biosciences of California during the 3rd quarter worth approximately $30,000. Water Island Capital LLC grew its stake in shares of Pacific Biosciences of California by 91.1% in 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 in the last quarter. Atria Investments Inc increased its holdings in 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 worth $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 during the third quarter worth $40,000. Finally, Ballentine Partners LLC bought a new stake in Pacific Biosciences of California during the third quarter worth $43,000.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PACB. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, November 12th. Scotiabank lowered 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 research report on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday, November 11th. Finally, 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 report on Monday, November 11th. One investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.95.

Pacific Biosciences of California Stock Down 4.2 %

PACB opened at $1.96 on Friday. 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 fifty day moving average of $1.98 and a 200-day moving average of $1.77. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The company has a market capitalization of $536.77 million, a P/E ratio of -1.34 and a beta of 1.95.

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.