Bourne Lent Asset Management Inc. Cuts Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Bourne Lent Asset Management Inc. lessened its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 943,755 shares of the biotechnology company’s stock after selling 10,840 shares during the period. Pacific Biosciences of California accounts for approximately 0.7% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 26th largest holding. Bourne Lent Asset Management Inc. owned about 0.34% of Pacific Biosciences of California worth $1,727,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PCA Investment Advisory Services Inc. boosted its holdings in Pacific Biosciences of California by 50.0% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Creative Planning boosted its holdings in Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 7,629 shares in the last quarter. Water Island Capital LLC boosted its holdings in 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 worth $27,000 after acquiring an additional 9,537 shares in the last quarter. Atria Investments Inc boosted its holdings in 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 acquiring an additional 10,138 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its holdings in 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 worth $67,000 after acquiring an additional 12,093 shares in the last quarter.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction 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 transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PACB shares. UBS Group downgraded 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 target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Monday, November 11th. Piper Sandler lifted 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. Finally, StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Thursday, January 9th. One research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.95.

Pacific Biosciences of California Stock Up 3.7 %

Pacific Biosciences of California stock opened at $1.70 on Wednesday. The stock has a market capitalization of $465.56 million, a PE ratio of -1.16 and a beta of 1.95. Pacific Biosciences of California, Inc. has a 12 month low of $1.16 and a 12 month high of $7.50. The business has a 50 day simple moving average of $1.90 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.

Pacific Biosciences of California Company 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.