Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 78.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,887 shares of the biotechnology company's stock after selling 1,013,416 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Pacific Biosciences of California worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Pacific Biosciences of California during the 1st quarter valued at approximately $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Pacific Biosciences of California during the 1st quarter valued at approximately $38,000. Kennedy Capital Management LLC bought a new position in Pacific Biosciences of California in the 1st quarter worth approximately $64,000. Water Island Capital LLC boosted its stake in Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 9,537 shares during the period. Finally, Simplicity Wealth LLC bought a new position in Pacific Biosciences of California in the 2nd quarter worth approximately $29,000.

Pacific Biosciences of California Trading Up 2.9 %

PACB stock traded up $0.07 during midday trading on Monday, reaching $2.51. The company's stock had a trading volume of 9,975,898 shares, compared to its average volume of 9,356,372. 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 stock has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $1.72. 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 market capitalization of $684.05 million, a price-to-earnings ratio of -1.67 and a beta of 2.01.

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

Wall Street Analysts Forecast Growth

PACB has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price target on Pacific Biosciences of California from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Scotiabank dropped 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 research note on Wednesday, August 28th. Morgan Stanley dropped their price target 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. StockNews.com upgraded Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.50.

Insider Transactions at Pacific Biosciences of California

In other news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction 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 owns 869,730 shares of the company's stock, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Oene Mark Van sold 38,011 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the sale, the insider now owns 1,630,815 shares of the company's stock, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Eidel sold 26,760 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 869,730 shares of the company's stock, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

Pacific Biosciences of California Company 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.