Trellus Management Company LLC raised its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) by 100.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,000 shares of the biotechnology company's stock after acquiring an additional 40,000 shares during the period. Trellus Management Company LLC's holdings in Pacific Biosciences of California were worth $354,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of PACB. KRS Capital Management LLC bought a new stake in shares of Pacific Biosciences of California during the 4th quarter worth $71,000. Harbor Investment Advisory LLC raised its stake in shares of Pacific Biosciences of California by 94.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 1,767 shares during the period. Vienna Asset Management LLC bought a new stake in shares of Pacific Biosciences of California during the 4th quarter worth $151,000. Avestar Capital LLC bought a new stake in shares of Pacific Biosciences of California during the 1st quarter worth $100,000. Finally, Interchange Capital Partners LLC bought a new stake in shares of Pacific Biosciences of California during the 1st quarter worth $102,000.
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Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on PACB shares. Piper Sandler decreased their price objective on Pacific Biosciences of California from $7.50 to $6.00 in a report on Sunday, August 21st. Cowen decreased their price objective on Pacific Biosciences of California to $8.00 in a report on Tuesday, August 9th. Finally, Canaccord Genuity Group reduced their target price on Pacific Biosciences of California from $17.00 to $14.00 and set a "buy" rating for the company in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.
Insider Buying and Selling
In related news, insider Christian O. Henry sold 91,307 shares of Pacific Biosciences of California stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $5.78, for a total value of $527,754.46. Following the transaction, the insider now owns 688,551 shares in the company, valued at approximately $3,979,824.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
Pacific Biosciences of California Price Performance
Shares of Pacific Biosciences of California stock traded down $0.17 on Tuesday, hitting $5.92. 151,798 shares of the company traded hands, compared to its average volume of 5,935,415. The firm's 50-day simple moving average is $5.84 and its 200 day simple moving average is $6.50. The company has a current ratio of 11.50, a quick ratio of 11.07 and a debt-to-equity ratio of 1.31. The company has a market cap of $1.33 billion, a P/E ratio of -6.48 and a beta of 1.33. Pacific Biosciences of California, Inc. has a 12-month low of $3.85 and a 12-month high of $31.10.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. Pacific Biosciences of California had a negative net margin of 147.39% and a negative return on equity of 35.76%. During the same quarter in the previous year, the company posted ($0.21) EPS. Analysts expect that Pacific Biosciences of California, Inc. will post -1.37 earnings per share for the current fiscal year.
Pacific Biosciences of California Profile
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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.
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