ARK Investment Management LLC Has $65.96 Million Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

ARK Investment Management LLC increased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,044,362 shares of the biotechnology company's stock after buying an additional 2,637,961 shares during the period. ARK Investment Management LLC owned 13.16% of Pacific Biosciences of California worth $65,961,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Pacific Biosciences of California by 641.3% in the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after buying an additional 353,092 shares during the last quarter. State Street Corp increased its holdings in Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company's stock worth $10,669,000 after buying an additional 340,766 shares during the last quarter. Soros Fund Management LLC boosted its position in Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company's stock worth $3,567,000 after purchasing an additional 400,000 shares during the period. Barclays PLC boosted its position in Pacific Biosciences of California by 143.0% during the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company's stock worth $1,011,000 after purchasing an additional 350,196 shares during the period. Finally, Senvest Management LLC boosted its position in Pacific Biosciences of California by 36.1% during the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company's stock worth $1,860,000 after purchasing an additional 290,000 shares during the period.

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Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB traded down $0.01 during trading hours on Friday, reaching $1.45. The stock had a trading volume of 11,058,913 shares, compared to its average volume of 10,062,648. The business's fifty day moving average is $1.72 and its two-hundred day moving average is $1.79. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The company has a market cap of $397.10 million, a price-to-earnings ratio of -0.88 and a beta of 1.92. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $5.54.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same period in the prior year, the company posted ($0.27) earnings per share. As a group, research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In related news, insider Michele Farmer sold 24,349 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the transaction, the insider now directly owns 187,592 shares in the company, valued at approximately $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the transaction, the insider now owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PACB. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research report on Tuesday. Scotiabank decreased their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a "sector outperform" rating for the company in a research report on Monday, November 11th. UBS Group cut Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price for the company. in a research report on Monday, November 11th. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. Finally, Stephens reaffirmed an "overweight" rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.79.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.