Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stake Increased by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC grew its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 150.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000,000 shares of the biotechnology company's stock after acquiring an additional 1,200,000 shares during the quarter. Koss Olinger Consulting LLC owned about 0.73% of Pacific Biosciences of California worth $3,660,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PACB. Cibc World Markets Corp acquired a new stake in Pacific Biosciences of California during the fourth quarter worth approximately $47,000. Carret Asset Management LLC lifted its stake in shares of Pacific Biosciences of California by 31.9% during the 4th quarter. Carret Asset Management LLC now owns 215,000 shares of the biotechnology company's stock worth $393,000 after purchasing an additional 52,000 shares during the period. Prosperity Wealth Management Inc. acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $146,000. Wealthfront Advisers LLC boosted its holdings in shares of Pacific Biosciences of California by 50.8% during the fourth quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 21,092 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Pacific Biosciences of California by 44.5% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 897,058 shares of the biotechnology company's stock valued at $1,642,000 after purchasing an additional 276,351 shares during the period.

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Pacific Biosciences of California Stock Up 3.2 %

Shares of NASDAQ:PACB traded up $0.04 during midday trading on Friday, hitting $1.30. 7,440,711 shares of the company's stock traded hands, compared to its average volume of 10,048,054. The firm's fifty day moving average price is $1.52 and its two-hundred day moving average price is $1.77. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $3.89. The company has a market cap of $387.21 million, a PE ratio of -0.79 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS 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 analysts' expectations of $39.20 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. On average, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction 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 sale, the insider now owns 1,597,454 shares of the company's stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michele Farmer sold 24,349 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the transaction, the insider now directly owns 187,592 shares of the company's stock, valued at approximately $352,672.96. The trade was 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 company insiders.

Analyst Ratings Changes

PACB has been the topic of several recent analyst reports. Stephens reiterated 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. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. 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 report on Tuesday, February 18th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. One research 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 MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.79.

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.