Pacific Biosciences of California Inc. (NASDAQ:PACB) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $8.08 and last traded at $8.07, with a volume of 567,510 shares traded. The stock had previously closed at $7.83.

Several equities research analysts have issued reports on the company. Vetr downgraded Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating and set a $10.42 price target for the company. in a report on Monday, April 25th. Zacks Investment Research upgraded Pacific Biosciences of California from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, April 26th. MKM Partners assumed coverage on Pacific Biosciences of California in a report on Friday, April 15th. They issued a “neutral” rating and a $16.50 price target for the company. First Analysis assumed coverage on Pacific Biosciences of California in a report on Thursday, April 14th. They issued an “overweight” rating and a $11.00 price target for the company. Finally, CL King assumed coverage on Pacific Biosciences of California in a report on Monday, June 27th. They issued a “buy” rating and a $11.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.89.

The company’s 50-day moving average is $8.19 and its 200 day moving average is $9.14. The company’s market capitalization is $706.06 million.

Other hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in Pacific Biosciences of California by 27.0% in the fourth quarter. Swiss National Bank now owns 84,446 shares of the company’s stock valued at $1,109,000 after buying an additional 17,946 shares in the last quarter. Russell Frank Co purchased a new stake in Pacific Biosciences of California during the fourth quarter valued at approximately $1,155,000. California State Teachers Retirement System raised its stake in Pacific Biosciences of California by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 112,214 shares of the company’s stock valued at $1,473,000 after buying an additional 1,998 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Pacific Biosciences of California by 30.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 321,855 shares of the company’s stock valued at $4,226,000 after buying an additional 74,529 shares in the last quarter.

Pacific Biosciences of California Inc designs, develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Company’s Single Molecule, Real-Time (SMRT) technology, its products enable de novo genome assembly to finish genomes in order to more fully identify, annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes, characterize alternatively spliced isoforms and find genes; targeted sequencing to more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage.

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