Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. trimmed its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,178,501 shares of the biotechnology company's stock after selling 1,687,265 shares during the quarter. Nikko Asset Management Americas Inc. owned about 3.72% of Pacific Biosciences of California worth $18,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PCA Investment Advisory Services Inc. lifted its holdings in shares of Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. Atom Investors LP purchased a new position in Pacific Biosciences of California during the 3rd quarter worth $30,000. Atria Investments Inc lifted its stake in shares of Pacific Biosciences of California by 85.7% in the 3rd 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. Centiva Capital LP purchased a new stake in shares of Pacific Biosciences of California in the third quarter valued at about $40,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $45,000.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michele Farmer sold 24,349 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the sale, the insider now directly owns 187,592 shares of the company's stock, valued at $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several equities analysts have issued reports on PACB shares. Piper Sandler reiterated a "neutral" rating and set a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Stephens reaffirmed an "overweight" rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $2.79.

Pacific Biosciences of California Trading Up 3.2 %

Shares of NASDAQ:PACB traded up $0.04 during trading on Friday, reaching $1.30. The stock had a trading volume of 7,440,711 shares, compared to its average volume of 10,018,197. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $4.10. The business has a fifty day moving average price of $1.54 and a 200-day moving average price of $1.77. The stock has a market cap of $387.21 million, a P/E ratio of -0.79 and a beta of 1.86. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The company had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. During the same quarter in the prior year, the company posted ($0.27) EPS. As a group, analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share 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.