The broader biotech space lifted the GenomeWeb Index a fraction of 1 percent, but Foundation Medicine's stock took a 40 percent hit for the month.
The company has signed an agreement for the purchase and sale of 1,200,000 shares of common stock.
Bio-Reference Laboratories, Cepheid, Exact Sciences, and NanoString all saw their shares rise in June. Sequenom topped the list of decliners.
Quarterly earnings results that failed to meet Wall Street expectations drove down shares of Fluidigm, Sequenom, and Foundation Medicine in May.
The number of decliners in the GenomeWeb Index in April outpaced the gainers 24 to seven amid softness in the broader biotech market.
In upgrading PacBio's shares to Outperform, the investment bank also took note of potential new revenues from its Roche deal and possibly a new platform launch next year.
Sequenom paced the gainers, while PacBio saw the biggest decline in what turned out to be a choppy month for the GenomeWeb Index.
Fluidigm and Meridian Bioscience led the gainers in the GenomeWeb Index for the month, while T2 Bio and PacBio's shares saw the biggest drops.
Roche's investment in Foundation of up to $1.2B sent Foundation's stock soaring. Otherwise, firms in the GenomeWeb Index saw a mixed month.
Along with Exact Sciences, the other big gainers in the GWDN Index were Illumina, Myriad Genetics, and Sequenom.
NPR says the explosion and fire earlier this week at a Russian lab that stores dangerous pathogens revives the question of whether such samples should be kept.
According to Wired, Nebula Genomics is providing a way for people to get their genomes sequenced anonymously.
A 26-year-old woman tells Cosmopolitan about learning her APOE status at a young age.
In Science journals this week: a functional genomic screen uncovers drug combination that increases KRAS inhibitor efficacy in aggressive lung cancer, and more.