Koss Olinger Consulting LLC Acquires Shares of 800,000 Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Koss Olinger Consulting LLC purchased a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 800,000 shares of the biotechnology company's stock, valued at approximately $1,096,000. Koss Olinger Consulting LLC owned approximately 0.29% of Pacific Biosciences of California at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. raised its stake in shares of Pacific Biosciences of California by 955.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company's stock worth $39,402,000 after buying an additional 9,511,787 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pacific Biosciences of California by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company's stock valued at $262,806,000 after purchasing an additional 3,514,792 shares during the period. Decheng Capital LLC acquired a new position in Pacific Biosciences of California during the fourth quarter valued at approximately $28,845,000. Jackson Square Partners LLC grew its holdings in Pacific Biosciences of California by 40.0% during the fourth quarter. Jackson Square Partners LLC now owns 9,704,766 shares of the biotechnology company's stock valued at $95,204,000 after purchasing an additional 2,770,901 shares during the period. Finally, Norges Bank acquired a new position in Pacific Biosciences of California during the fourth quarter valued at approximately $13,486,000.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PACB. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, August 13th. Scotiabank reduced their price target on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a "sector outperform" rating for the company in a report on Wednesday, August 28th. Morgan Stanley reduced their target price on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating for the company in a report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Pacific Biosciences of California in a research report on Monday, June 3rd. They set a "buy" rating and a $4.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a "neutral" rating on the stock in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California currently has an average rating of "Hold" and a consensus target price of $4.50.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 38,011 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jeff Eidel sold 26,760 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now directly owns 869,730 shares of the company's stock, valued at approximately $1,382,870.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Pacific Biosciences of California Stock Up 12.9 %

Shares of PACB traded up $0.18 during trading hours on Friday, hitting $1.58. The company had a trading volume of 19,904,680 shares, compared to its average volume of 9,619,514. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $11.96. The firm has a fifty day moving average price of $1.59 and a 200-day moving average price of $2.30. The stock has a market capitalization of $430.32 million, a price-to-earnings ratio of -1.39 and a beta of 2.03. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.04. The business had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. On average, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.96 EPS for the current fiscal year.

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.