Jackson Square Partners LLC Decreases Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Jackson Square Partners LLC lowered its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,109,266 shares of the biotechnology company's stock after selling 1,186,850 shares during the quarter. Jackson Square Partners LLC owned 1.87% of Pacific Biosciences of California worth $9,350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PACB. Atria Investments Inc raised its position in Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 10,138 shares during the period. Intech Investment Management LLC purchased a new stake in Pacific Biosciences of California in the 3rd quarter worth $190,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Pacific Biosciences of California by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company's stock worth $3,469,000 after acquiring an additional 82,807 shares during the period. FMR LLC lifted its holdings in Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after purchasing an additional 353,092 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $63,000.

Pacific Biosciences of California Trading Down 8.1 %

PACB stock traded down $0.10 during mid-day trading on Friday, reaching $1.14. 12,332,785 shares of the stock traded hands, compared to its average volume of 10,146,534. Pacific Biosciences of California, Inc. has a one year low of $1.11 and a one year high of $3.85. The stock has a market capitalization of $339.55 million, a PE ratio of -0.70 and a beta of 1.86. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The business has a 50-day moving average price of $1.47 and a two-hundred day moving average price of $1.76.

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Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $39.22 million during the quarter, compared to analysts' expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same period in the previous year, the company earned ($0.27) EPS. Equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Insider Transactions at Pacific Biosciences of California

In other news, insider Michele Farmer sold 24,349 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Oene Mark Van sold 34,405 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company's stock.

Analyst Ratings Changes

PACB has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on shares of 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. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. Piper Sandler reaffirmed a "neutral" rating and issued a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Scotiabank dropped their price target on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research note on Tuesday. Finally, Stephens reaffirmed an "overweight" rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.46.

Pacific Biosciences of California Profile

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.