Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. boosted its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 21,346,480 shares of the biotechnology company's stock after acquiring an additional 1,038,600 shares during the quarter. Edmond DE Rothschild Holding S.A. owned 7.79% of Pacific Biosciences of California worth $39,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ARK Investment Management LLC grew its stake in Pacific Biosciences of California by 7.9% during the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock valued at $65,961,000 after acquiring an additional 2,637,961 shares in the last quarter. Koss Olinger Consulting LLC lifted its position in Pacific Biosciences of California by 150.0% during the fourth quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company's stock worth $3,660,000 after buying an additional 1,200,000 shares in the last quarter. Soros Fund Management LLC grew its holdings in Pacific Biosciences of California by 23.6% in the 3rd quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company's stock valued at $3,567,000 after buying an additional 400,000 shares in the last quarter. FMR LLC increased its stake in shares of Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after acquiring an additional 353,092 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Pacific Biosciences of California by 143.0% during the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company's stock valued at $1,011,000 after acquiring an additional 350,196 shares during the last quarter.

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Analysts Set New Price Targets

Several research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price 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. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. Piper Sandler reiterated a "neutral" rating and issued a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Stephens reiterated 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. Finally, Scotiabank reduced their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.46.

Insider Buying and Selling

In other news, insider Michele Farmer sold 24,349 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company's stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Oene Mark Van sold 34,405 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares of the company's stock, valued at approximately $3,242,831.62. This trade represents a 2.11 % 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 Price Performance

Shares of Pacific Biosciences of California stock traded down $0.09 on Thursday, hitting $1.19. The company's stock had a trading volume of 5,015,641 shares, compared to its average volume of 10,130,188. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm has a fifty day moving average price of $1.44 and a 200-day moving average price of $1.75. Pacific Biosciences of California, Inc. has a 52-week low of $1.08 and a 52-week high of $3.70. The company has a market capitalization of $352.95 million, a P/E ratio of -0.72 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate 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 firm had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, equities research analysts expect 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.