Mirae Asset Global Investments Co. Ltd. Purchases 408,874 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirae Asset Global Investments Co. Ltd. lifted its position in Pacific Biosciences of California, Inc. (NASDAQ:PACBFree Report) by 44.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335,862 shares of the biotechnology company’s stock after acquiring an additional 408,874 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.50% of Pacific Biosciences of California worth $5,009,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Pacific Biosciences of California by 67.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,094,724 shares of the biotechnology company’s stock worth $10,739,000 after acquiring an additional 442,250 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Pacific Biosciences of California in the 4th quarter worth about $4,103,000. ARK Investment Management LLC boosted its holdings in shares of Pacific Biosciences of California by 15.7% in the 4th quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock worth $338,487,000 after buying an additional 4,681,833 shares during the last quarter. Jackson Square Partners LLC boosted its holdings in shares of Pacific Biosciences of California by 40.0% in the 4th quarter. Jackson Square Partners LLC now owns 9,704,766 shares of the biotechnology company’s stock worth $95,204,000 after buying an additional 2,770,901 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Pacific Biosciences of California by 2,201.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,041,624 shares of the biotechnology company’s stock worth $29,838,000 after buying an additional 2,909,439 shares during the last quarter.

Pacific Biosciences of California Trading Down 0.8 %

Shares of Pacific Biosciences of California stock opened at $1.30 on Thursday. The company has a current ratio of 9.28, a quick ratio of 8.36 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $1.72 and its 200-day moving average price is $4.02. The company has a market cap of $354.07 million, a price-to-earnings ratio of -1.14 and a beta of 2.05. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $14.55.

Pacific Biosciences of California (NASDAQ:PACBGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share for the quarter, hitting the consensus estimate of ($0.26). The company had revenue of $38.81 million for the quarter, compared to analysts’ expectations of $38.78 million. Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. On average, equities analysts expect that Pacific Biosciences of California, Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PACB has been the topic of a number of research analyst reports. Sanford C. Bernstein cut their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a report on Thursday, April 18th. The Goldman Sachs Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $2.50 in a report on Thursday, April 18th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Wednesday, June 26th. Scotiabank dropped their price objective on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. Finally, TD Cowen dropped their price objective on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Pacific Biosciences of California has an average rating of “Hold” and an average target price of $6.38.

View Our Latest Report on PACB

About Pacific Biosciences of California

(Free Report)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as 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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