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      Pacific Biosciences (PACB) Closed Higher On Analyst Upgrade

      By Fahim Awan

      Published on

      November 20, 2023

      9:14 AM UTC

      Pacific Biosciences (PACB) Closed Higher On Analyst Upgrade

      Pacific Biosciences of California, Inc. (NASDAQ: PACB) experienced a notable uptick of 10.67%, or $0.81, concluding the Friday trading session at $8.40. This surge was instigated by an upward revision in the evaluation of Pacific Biosciences stock by the analyst firm UBS. On Friday, UBS elevated its stance on PACB stock from “Neutral” to “Buy.” However, it adjusted the price target downward to $10, a reduction from the previous $13 target.

      In a strategic move this month, Pacific Biosciences unveiled the HiFi Solves consortium. This global initiative unites researchers from 15 prominent genomics research institutions across 11 countries. Their collective focus is to explore the potential of HiFi-based human genome sequencing in clinical research applications and deepen PACB’s comprehension of genetic diseases.

      These institutions will collaborate to formulate and exchange optimal approaches for handling data generated from PacBio Revio sequencing systems. The overarching aim is to harness the comprehensive and thorough nature of HiFi genomes in the realm of human genetics research applications.

      The introduction of Revio has empowered researchers to scale HiFi long-read sequencing to unprecedented levels. By establishing this consortium, the company endeavors to expedite the worldwide adoption of HiFi sequencing in human genomics. The objective is to share best practices, potentially providing families with a resolution to their diagnostic challenges.

      PacBio HiFi long-read sequencing stands poised to emerge as a primary assay for researchers investigating rare disease cohorts due to its capability to accurately identify and phase all classes of variants. This is in contrast to other technologies that necessitate multiple assays. Through the HiFi Solves consortium, researchers will scrutinize the effectiveness of HiFi sequencing in unraveling the diverse genetic mechanisms underlying rare diseases.

      Members of the HiFi Solves consortium will present an overview of their objectives and activities at the American Society of Human Genetics Annual Meeting in Washington D.C. Additionally, they will share recent findings, particularly those related to exploring potentially clinically relevant genes situated in areas of high sequence homology or other intricacies within the human genome.

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