Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Oracle Investment Management Inc.

Oracle Investment Management Inc. lessened its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 73.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 423,138 shares of the biotechnology company's stock after selling 1,182,888 shares during the quarter. Pacific Biosciences of California makes up about 0.5% of Oracle Investment Management Inc.'s holdings, making the stock its 13th largest position. Oracle Investment Management Inc. owned about 0.16% of Pacific Biosciences of California worth $580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Harbor Asset Management LLC grew its holdings in Pacific Biosciences of California by 4.4% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company's stock valued at $164,000 after buying an additional 5,000 shares during the last quarter. Swiss National Bank lifted its position in shares of Pacific Biosciences of California by 1.3% in the first quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company's stock valued at $1,782,000 after acquiring an additional 6,200 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in shares of Pacific Biosciences of California by 20.5% during the first quarter. Green Alpha Advisors LLC now owns 49,947 shares of the biotechnology company's stock valued at $187,000 after acquiring an additional 8,512 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter worth about $32,000. Finally, Daiwa Securities Group Inc. raised its stake in Pacific Biosciences of California by 4.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company's stock valued at $322,000 after purchasing an additional 9,516 shares during the last quarter.

Analyst Upgrades and Downgrades

PACB has been the topic of several analyst reports. Canaccord Genuity Group decreased their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a research report on Tuesday, August 13th. Scotiabank cut their price target on 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 decreased their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating on the stock in a report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $4.50.

Pacific Biosciences of California Stock Down 4.7 %

PACB opened at $1.74 on Tuesday. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The firm has a 50 day moving average price of $1.68 and a 200 day moving average price of $2.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The company has a market cap of $474.20 million, a PE ratio of -1.53 and a beta of 2.03.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative net margin of 211.99% and a negative return on equity of 40.98%. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Sell-side analysts expect that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of the company's stock in a transaction dated 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 sale, the insider now owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jeff Eidel sold 26,760 shares of the firm's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the company's stock in a transaction dated Friday, August 16th. The shares were 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 of the company's stock, 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.

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.

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