BidaskClub cut shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) from a sell rating to a strong sell rating in a research report report published on Thursday.

PACB has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a hold rating to a sell rating in a report on Tuesday, June 27th. Cantor Fitzgerald set a $8.00 price objective on shares of Pacific Biosciences of California and gave the stock a buy rating in a report on Thursday, April 27th. Finally, ValuEngine downgraded shares of Pacific Biosciences of California from a sell rating to a strong sell rating in a report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $10.00.

Shares of Pacific Biosciences of California (NASDAQ PACB) traded up 0.93% during trading on Thursday, hitting $3.26. 352,815 shares of the stock were exchanged. The firm has a 50 day moving average price of $3.43 and a 200 day moving average price of $4.31. The firm’s market capitalization is $304.97 million. Pacific Biosciences of California has a 52 week low of $3.08 and a 52 week high of $9.50.

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Institutional investors have recently bought and sold shares of the company. Athena Capital Advisors LLC purchased a new position in Pacific Biosciences of California during the first quarter worth about $114,000. Karp Capital Management Corp purchased a new position in Pacific Biosciences of California during the first quarter worth about $116,000. Biondo Investment Advisors LLC purchased a new position in Pacific Biosciences of California during the first quarter worth about $137,000. Teza Capital Management LLC purchased a new position in Pacific Biosciences of California during the first quarter worth about $153,000. Finally, Bank of Montreal Can increased its position in Pacific Biosciences of California by 601.5% in the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after buying an additional 35,463 shares in the last quarter. 57.22% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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