Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP grew its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 226.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,300 shares of the biotechnology company's stock after purchasing an additional 1,117,966 shares during the quarter. Marshall Wace LLP owned approximately 0.59% of Pacific Biosciences of California worth $2,207,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PACB. Lombard Odier Asset Management USA Corp increased its holdings in Pacific Biosciences of California by 27.0% in the second quarter. Lombard Odier Asset Management USA Corp now owns 94,557 shares of the biotechnology company's stock valued at $130,000 after buying an additional 20,092 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Pacific Biosciences of California in the 2nd quarter valued at about $93,000. Benjamin F. Edwards & Company Inc. raised its holdings in Pacific Biosciences of California by 5,755.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 141,830 shares of the biotechnology company's stock worth $194,000 after purchasing an additional 139,408 shares during the period. Hsbc Holdings PLC raised its holdings in Pacific Biosciences of California by 71.2% in the 2nd quarter. Hsbc Holdings PLC now owns 79,122 shares of the biotechnology company's stock worth $106,000 after purchasing an additional 32,899 shares during the period. Finally, Federated Hermes Inc. purchased a new position in Pacific Biosciences of California during the second quarter worth approximately $612,000.

Pacific Biosciences of California Trading Up 5.5 %

NASDAQ:PACB traded up $0.09 during trading hours on Friday, hitting $1.72. The company had a trading volume of 5,057,191 shares, compared to its average volume of 9,480,023. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The company has a market cap of $468.45 million, a P/E ratio of -1.51 and a beta of 2.05. The company has a 50-day moving average of $1.64 and a 200 day moving average of $1.93. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81.

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 firm had revenue of $36.01 million during the quarter, compared to analysts' expectations 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 Transactions at Pacific Biosciences of California

In related news, insider Jeff Eidel sold 26,760 shares of the 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 completion of the transaction, the insider now directly owns 869,730 shares in the company, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Oene Mark Van sold 38,011 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares of the company's stock, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the transaction, the insider now directly owns 869,730 shares of the company's stock, valued at $1,382,870.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PACB. Morgan Stanley reduced their target price on Pacific Biosciences of California from $4.00 to $2.00 and set an "equal weight" rating for the company in a research note on Monday, August 12th. Cantor Fitzgerald restated an "overweight" rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research report 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. Canaccord Genuity Group reduced their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Scotiabank lowered their price objective on Pacific Biosciences of California from $8.00 to $7.00 and set a "sector outperform" rating on the stock in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.50.

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.