Raymond James & Associates lifted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB – Get Rating) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,090 shares of the biotechnology company's stock after purchasing an additional 1,365 shares during the quarter. Raymond James & Associates' holdings in Pacific Biosciences of California were worth $552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Pacific Biosciences of California during the second quarter valued at $866,000. Integrity Advisory LLC grew its holdings in shares of Pacific Biosciences of California by 26.5% during the second quarter. Integrity Advisory LLC now owns 14,262 shares of the biotechnology company's stock worth $63,000 after buying an additional 2,991 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Pacific Biosciences of California by 15.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 17,101 shares of the biotechnology company's stock valued at $75,000 after acquiring an additional 2,347 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Pacific Biosciences of California by 2.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,345,485 shares of the biotechnology company's stock valued at $63,407,000 after buying an additional 324,280 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Pacific Biosciences of California during the second quarter worth about $1,108,000. Institutional investors own 92.88% of the company's stock.
Get Pacific Biosciences of California alerts:Pacific Biosciences of California Stock Performance
Shares of Pacific Biosciences of California stock opened at $11.09 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 11.19 and a quick ratio of 10.66. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -8.28 and a beta of 1.59. The firm's 50-day moving average is $9.83 and its 200 day moving average is $7.84. Pacific Biosciences of California, Inc. has a 1 year low of $3.85 and a 1 year high of $14.20.
Pacific Biosciences of California (NASDAQ:PACB – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Pacific Biosciences of California had a negative net margin of 218.44% and a negative return on equity of 42.03%. The business had revenue of $32.31 million for the quarter, compared to analysts' expectations of $35.30 million. Sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -1.37 EPS for the current fiscal year.Insider Buying and Selling
In related news, insider Christian O. Henry sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $10.84, for a total value of $487,800.00. Following the transaction, the insider now directly owns 643,551 shares in the company, valued at $6,976,092.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pacific Biosciences of California news, insider Christian O. Henry sold 45,000 shares of Pacific Biosciences of California stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $10.84, for a total value of $487,800.00. Following the transaction, the insider now directly owns 643,551 shares in the company, valued at approximately $6,976,092.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Oene Mark Van sold 26,722 shares of the firm's stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $9.53, for a total transaction of $254,660.66. Following the completion of the sale, the insider now owns 640,808 shares of the company's stock, valued at approximately $6,106,900.24. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research firms recently commented on PACB. Canaccord Genuity Group lifted their price objective on Pacific Biosciences of California from $12.00 to $14.00 in a research report on Wednesday, November 16th. Cantor Fitzgerald downgraded Pacific Biosciences of California from an "overweight" rating to a "neutral" rating and set a $12.00 target price for the company. in a report on Friday, January 20th. They noted that the move was a valuation call. Piper Sandler upped their target price on Pacific Biosciences of California from $6.00 to $11.00 in a research report on Wednesday, November 16th. Finally, Scotiabank started coverage on Pacific Biosciences of California in a research report on Wednesday, January 4th. They issued a "sector outperform" rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.17.
About Pacific Biosciences of California
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Pacific Biosciences of California, Inc engages in the development, manufacture, and marketing of advanced sequencing solutions for genetic analysis. It operates through the following geographical segments: North America, Europe, and Asia Pacific. The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.
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