🔴 Pacific Biosciences is trading 6.3% down in pre-market amid a pullback after recent gains

Pacific Biosciences is trading 6.3% down in pre-market at $2.53 on October 7, amid a pullback after a recent rally.

• Shares climbed from $1.71 on September 28 to $2.87 on October 5, then fell to $2.70 on October 6.
• UBS initiated coverage at Neutral with a $1.35 price target, and a TychoBio collaboration was announced October 6. Neither is a confirmed cause of the decline; no new October 7 announcement surfaced.
• Trading volume was not provided.