Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC increased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) by 17.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,022 shares of the biotechnology company’s stock after purchasing an additional 6,272 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Pacific Biosciences of California were worth $1,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Pacific Biosciences of California by 0.5% in the first quarter. Vanguard Group Inc. now owns 19,945,092 shares of the biotechnology company’s stock worth $181,499,000 after purchasing an additional 90,216 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Pacific Biosciences of California by 17.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,021,205 shares of the biotechnology company’s stock valued at $127,593,000 after acquiring an additional 2,106,180 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in Pacific Biosciences of California by 17.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 14,021,205 shares of the biotechnology company’s stock valued at $127,873,000 after acquiring an additional 2,106,180 shares during the period. Capital International Investors boosted its stake in Pacific Biosciences of California by 5.6% in the first quarter. Capital International Investors now owns 12,781,855 shares of the biotechnology company’s stock valued at $116,315,000 after acquiring an additional 675,537 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Pacific Biosciences of California by 33.6% in the fourth quarter. William Blair Investment Management LLC now owns 5,469,636 shares of the biotechnology company’s stock valued at $111,909,000 after acquiring an additional 1,374,633 shares during the period.

Insider Buying and Selling

In related news, insider Christian O. Henry sold 91,307 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $5.78, for a total transaction of $527,754.46. Following the sale, the insider now owns 688,551 shares of the company’s stock, valued at $3,979,824.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Pacific Biosciences of California Stock Performance

PACB opened at $5.41 on Friday. The business’s 50 day moving average is $5.88 and its 200-day moving average is $6.45. The company has a quick ratio of 11.07, a current ratio of 11.50 and a debt-to-equity ratio of 1.31. Pacific Biosciences of California, Inc. has a twelve month low of $3.85 and a twelve month high of $31.10.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.34) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.34). Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. The company had revenue of $35.47 million for the quarter, compared to analysts’ expectations of $35.54 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Equities research analysts expect that Pacific Biosciences of California, Inc. will post -1.37 earnings per share for the current year.

Pacific Biosciences of California Company Profile

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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.

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

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