Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 766,127 shares of the biotechnology company’s stock after purchasing an additional 88,969 shares during the period. Granahan Investment Management LLC owned about 0.31% of Pacific Biosciences of California worth $8,872,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PACB. Captrust Financial Advisors lifted its position in shares of Pacific Biosciences of California by 217.2% during the second quarter. Captrust Financial Advisors now owns 6,163 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 4,220 shares during the last quarter. AXS Investments LLC bought a new position in shares of Pacific Biosciences of California during the first quarter worth about $68,000. CI Investments Inc. lifted its position in shares of Pacific Biosciences of California by 251.4% during the fourth quarter. CI Investments Inc. now owns 9,041 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 6,468 shares during the last quarter. Prudential Financial Inc. lifted its stake in Pacific Biosciences of California by 6.6% during the first quarter. Prudential Financial Inc. now owns 17,212 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,060 shares during the last quarter. Finally, SVB Financial Group bought a new position in Pacific Biosciences of California during the fourth quarter worth $84,000.

Pacific Biosciences of California Stock Down 4.3 %

Shares of NASDAQ PACB opened at $10.39 on Monday. Pacific Biosciences of California, Inc. has a 12 month low of $4.97 and a 12 month high of $14.55. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -7.70 and a beta of 1.65. The business has a fifty day simple moving average of $12.04 and a 200-day simple moving average of $11.54.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.06. The business had revenue of $47.57 million during the quarter, compared to the consensus estimate of $40.12 million. Pacific Biosciences of California had a negative return on equity of 46.47% and a negative net margin of 218.43%. Pacific Biosciences of California’s revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.34) earnings per share. As a group, sell-side analysts expect that Pacific Biosciences of California, Inc. will post -1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PACB shares. Morgan Stanley raised their price objective on Pacific Biosciences of California from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Wednesday, August 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $14.00 target price on shares of Pacific Biosciences of California in a report on Tuesday, August 22nd. The Goldman Sachs Group assumed coverage on Pacific Biosciences of California in a research note on Friday, June 30th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, KGI Securities assumed coverage on Pacific Biosciences of California in a report on Wednesday, June 7th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.89.

About Pacific Biosciences of California

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: America, Europe, Middle East, and Africa, 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.