Vestmark Advisory Solutions Inc. Raises Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Vestmark Advisory Solutions Inc. grew its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 897,058 shares of the biotechnology company's stock after buying an additional 276,351 shares during the period. Vestmark Advisory Solutions Inc. owned approximately 0.33% of Pacific Biosciences of California worth $1,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its position in Pacific Biosciences of California by 641.3% in the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company's stock worth $694,000 after acquiring an additional 353,092 shares in the last quarter. State Street Corp boosted its holdings in shares of Pacific Biosciences of California by 5.7% in the 3rd quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company's stock worth $10,669,000 after purchasing an additional 340,766 shares in the last quarter. Soros Fund Management LLC increased its position in shares of Pacific Biosciences of California by 23.6% during 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 purchasing an additional 400,000 shares during the last quarter. Barclays PLC raised its holdings 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 buying an additional 350,196 shares in the last quarter. Finally, Senvest Management LLC lifted its position in Pacific Biosciences of California by 36.1% in the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company's stock worth $1,860,000 after buying an additional 290,000 shares during the last quarter.

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Wall Street Analyst Weigh In

A number of research analysts have commented on PACB shares. Stephens reiterated an "overweight" rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Piper Sandler reiterated a "neutral" rating and issued 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 shares of Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Finally, UBS Group lowered Pacific Biosciences of California from a "buy" rating to a "neutral" rating and set a $2.00 target price for the company. in a research note on Monday, November 11th. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $2.79.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of the business's stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michele Farmer sold 24,349 shares of the firm's stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Pacific Biosciences of California Trading Down 5.8 %

Shares of NASDAQ:PACB traded down $0.08 on Tuesday, hitting $1.31. The company had a trading volume of 7,313,582 shares, compared to its average volume of 10,043,390. The firm's 50-day simple moving average is $1.65 and its two-hundred day simple moving average is $1.79. The firm has a market capitalization of $358.76 million, a price-to-earnings ratio of -0.80 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, Inc. has a 1 year low of $1.16 and a 1 year high of $4.57.

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 the consensus estimate 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 business had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same period last year, the business posted ($0.27) earnings per share. Equities analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

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.