Boothbay Fund Management LLC Makes New $83,000 Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Boothbay Fund Management LLC acquired a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,283 shares of the biotechnology company’s stock, valued at approximately $83,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Pacific Biosciences of California by 0.5% during the 1st 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Pacific Biosciences of California by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,391,962 shares of the biotechnology company’s stock worth $83,545,000 after purchasing an additional 46,477 shares during the last quarter. Capital International Investors raised its position in shares of Pacific Biosciences of California by 5.6% during the 1st quarter. Capital International Investors now owns 12,781,855 shares of the biotechnology company’s stock worth $116,315,000 after purchasing an additional 675,537 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Pacific Biosciences of California by 68.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,284,090 shares of the biotechnology company’s stock worth $45,456,000 after purchasing an additional 4,179,997 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Pacific Biosciences of California by 190.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 8,438,572 shares of the biotechnology company’s stock worth $37,299,000 after purchasing an additional 5,533,953 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $9.02 on Wednesday. The firm has a 50 day simple moving average of $10.12 and a 200-day simple moving average of $8.59. Pacific Biosciences of California, Inc. has a 1-year low of $3.85 and a 1-year high of $14.20. The company has a debt-to-equity ratio of 1.59, a current ratio of 3.24 and a quick ratio of 3.04. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -6.44 and a beta of 1.67.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last posted its quarterly earnings results on Thursday, February 16th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Pacific Biosciences of California had a negative net margin of 244.93% and a negative return on equity of 47.73%. The firm had revenue of $27.35 million during the quarter, compared to analysts’ expectations of $27.29 million. During the same period last year, the company earned ($0.30) EPS. The business’s quarterly revenue was down 24.1% on a year-over-year basis. On average, analysts expect that Pacific Biosciences of California, Inc. will post -1.26 EPS for the current year.

Insider Activity

In other news, insider Susan G. Kim sold 5,045 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $9.49, for a total value of $47,877.05. Following the completion of the sale, the insider now owns 323,505 shares of the company’s stock, valued at approximately $3,070,062.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Oene Mark Van sold 26,722 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $9.53, for a total value of $254,660.66. Following the transaction, the insider now directly owns 640,808 shares in the company, valued at approximately $6,106,900.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan G. Kim sold 5,045 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $9.49, for a total transaction of $47,877.05. Following the completion of the transaction, the insider now owns 323,505 shares in the company, valued at $3,070,062.45. The disclosure for this sale can be found here. Insiders sold a total of 32,674 shares of company stock valued at $311,853 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PACB. Cantor Fitzgerald downgraded shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Friday, January 20th. They noted that the move was a valuation call. Scotiabank assumed coverage on shares of Pacific Biosciences of California in a research note on Wednesday, January 4th. They set a “sector outperform” rating and a $12.00 price objective for the company. Piper Sandler dropped their price objective on shares of Pacific Biosciences of California from $11.00 to $10.00 in a research note on Wednesday, February 22nd. Canaccord Genuity Group upped their price objective on shares of Pacific Biosciences of California from $12.00 to $14.00 in a research note on Wednesday, November 16th. Finally, UBS Group assumed coverage on shares of Pacific Biosciences of California in a research note on Thursday, February 2nd. They set a “neutral” rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $11.50.

Pacific Biosciences of California Profile

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Pacific Biosciences of California, Inc engages in the development, manufacture, and marketing of advanced sequencing solutions for genetic analysis. It operates through the following geographical segments: North America, Europe, and Asia Pacific. The company was founded by Stephen Turner and Joseph Vincent Bonventre on July 14, 2000 and is headquartered in Menlo Park, CA.

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

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