Edmond DE Rothschild Holding S.A. Has $39.06 Million Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Edmond DE Rothschild Holding S.A. lifted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,346,480 shares of the biotechnology company's stock after purchasing an additional 1,038,600 shares during the period. Edmond DE Rothschild Holding S.A. owned approximately 7.79% of Pacific Biosciences of California worth $39,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. boosted its holdings in Pacific Biosciences of California by 50.0% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Atom Investors LP purchased a new position in shares of Pacific Biosciences of California in the 3rd quarter valued at about $30,000. Centiva Capital LP acquired a new position in shares of Pacific Biosciences of California during the third quarter worth about $40,000. FNY Investment Advisers LLC purchased a new position in Pacific Biosciences of California in the fourth quarter valued at approximately $45,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at about $47,000.

Wall Street Analyst Weigh In

Several research firms have commented on PACB. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, March 25th. The Goldman Sachs Group reduced their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Stephens restated an "overweight" rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of "Hold" and a consensus target price of $2.46.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ:PACB traded down $0.01 during trading hours on Friday, hitting $1.19. The stock had a trading volume of 7,801,792 shares, compared to its average volume of 10,134,127. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The stock's fifty day simple moving average is $1.43 and its 200 day simple moving average is $1.75. The firm has a market capitalization of $352.95 million, a price-to-earnings ratio of -0.72 and a beta of 1.86. Pacific Biosciences of California, Inc. has a 1-year low of $1.08 and a 1-year high of $3.70.

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 net margin of 200.40% and a negative return on equity of 42.89%. The company had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same period in the prior year, the business posted ($0.27) EPS. Sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michele Farmer sold 24,349 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now 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. Corporate insiders own 2.40% of the company's stock.

Pacific Biosciences of California 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.