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

Walleye Capital LLC grew its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) by 414.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,225 shares of the biotechnology company’s stock after buying an additional 41,272 shares during the period. Walleye Capital LLC’s holdings in Pacific Biosciences of California were worth $466,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Investment Advisory LLC boosted its stake in Pacific Biosciences of California by 94.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,636 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,767 shares during the period. Avestar Capital LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $100,000. Interchange Capital Partners LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $102,000. Integrity Advisory LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $103,000. Finally, Ieq Capital LLC acquired a new stake in Pacific Biosciences of California during the 1st quarter worth $104,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PACB. Canaccord Genuity Group decreased their price target on shares of 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 lowered their price objective on Pacific Biosciences of California from $7.50 to $6.00 in a report on Sunday, August 21st. Finally, Cowen dropped their target price on Pacific Biosciences of California to $8.00 in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $5.41 on Friday. The company has a current ratio of 11.50, a quick ratio of 11.07 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $5.88 and its two-hundred day moving average is $6.45. Pacific Biosciences of California, Inc. has a 12-month low of $3.85 and a 12-month high of $31.10. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.88 and a beta of 1.33.

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, hitting analysts’ consensus estimates of ($0.34). The business had revenue of $35.47 million for the quarter, compared to analysts’ expectations of $35.54 million. Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. During the same quarter in the prior year, the firm posted ($0.21) EPS. Research analysts expect that Pacific Biosciences of California, Inc. will post -1.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Christian O. Henry sold 91,307 shares of the company’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 value of $527,754.46. Following the sale, the insider now owns 688,551 shares in the company, valued at approximately $3,979,824.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

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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