Impact Partnership Wealth LLC Boosts Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Impact Partnership Wealth LLC lifted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,735 shares of the biotechnology company’s stock after purchasing an additional 11,566 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Pacific Biosciences of California were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. PCA Investment Advisory Services Inc. increased its position in Pacific Biosciences of California by 50.0% during the fourth 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 last quarter. Atom Investors LP purchased a new stake in Pacific Biosciences of California during the third quarter valued at $30,000. Water Island Capital LLC increased its position in 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 acquiring an additional 9,537 shares during the last quarter. Atria Investments Inc increased its position 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 valued at $37,000 after acquiring an additional 10,138 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the third quarter valued at $40,000.

Insider Activity

In related news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Pacific Biosciences of California Price Performance

NASDAQ:PACB opened at $1.69 on Friday. The firm has a market capitalization of $462.82 million, a price-to-earnings ratio of -1.16 and a beta of 1.95. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $7.50. The business has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $1.82. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PACB shares. Scotiabank reduced their price objective 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. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a report on Monday, November 11th. The Goldman Sachs Group cut their price target on Pacific Biosciences of California from $2.25 to $1.75 and set a “neutral” rating for the company in a report on Thursday. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Thursday, January 9th. Finally, Piper Sandler upped their price objective 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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.