2,660,000 Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB) Purchased by Blue Water Life Science Advisors LP

Blue Water Life Science Advisors LP acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,660,000 shares of the biotechnology company’s stock, valued at approximately $24,206,000. Pacific Biosciences of California makes up about 11.5% of Blue Water Life Science Advisors LP’s portfolio, making the stock its 4th largest position. Blue Water Life Science Advisors LP owned approximately 1.19% of Pacific Biosciences of California at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Harbor Investment Advisory LLC raised its holdings in Pacific Biosciences of California by 94.5% in the first quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company’s stock worth $33,000 after buying an additional 1,767 shares during the last quarter. KRS Capital Management LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth about $71,000. Avestar Capital LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $100,000. Interchange Capital Partners LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $102,000. Finally, Integrity Advisory LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $103,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Cowen decreased their target price on shares of Pacific Biosciences of California to $8.00 in a report on Tuesday, August 9th. Piper Sandler decreased their price objective on shares of Pacific Biosciences of California from $7.50 to $6.00 in a report on Sunday, August 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Pacific Biosciences of California from $17.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Pacific Biosciences of California Stock Down 11.7 %

PACB opened at $6.14 on Wednesday. The company has a quick ratio of 11.07, a current ratio of 11.50 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average price of $5.76 and a 200-day moving average price of $6.68. Pacific Biosciences of California, Inc. has a twelve month low of $3.85 and a twelve month high of $31.10. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -6.67 and a beta of 1.33.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Pacific Biosciences of California had a negative net margin of 147.39% and a negative return on equity of 35.76%. During the same quarter in the previous year, the company earned ($0.21) earnings per share. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post -1.37 earnings per share for the current year.

About Pacific Biosciences of California

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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

See Also

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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