Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers decreased its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 76.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,332 shares of the biotechnology company’s stock after selling 91,167 shares during the period. Cetera Investment Advisers’ holdings in Pacific Biosciences of California were worth $52,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. purchased a new stake in Pacific Biosciences of California during the 4th quarter worth about $8,962,000. ARK Investment Management LLC increased its holdings in Pacific Biosciences of California by 7.9% during the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock worth $65,961,000 after purchasing an additional 2,637,961 shares during the period. Koss Olinger Consulting LLC increased its holdings in shares of Pacific Biosciences of California by 150.0% in the 4th quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company’s stock valued at $3,660,000 after acquiring an additional 1,200,000 shares during the last quarter. Barclays PLC increased its holdings in shares of Pacific Biosciences of California by 178.9% in the 4th quarter. Barclays PLC now owns 1,660,059 shares of the biotechnology company’s stock valued at $3,038,000 after acquiring an additional 1,064,909 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Pacific Biosciences of California by 5.1% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 21,346,480 shares of the biotechnology company’s stock valued at $39,064,000 after acquiring an additional 1,038,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PACB. Piper Sandler dropped their price objective on Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating on the stock in a report on Thursday, May 15th. Stephens reiterated an “overweight” rating and issued a $1.80 price objective on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Wall Street Zen upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $3.00 price target on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California has an average rating of “Hold” and an average target price of $2.34.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $0.99 on Tuesday. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.72. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm has a market capitalization of $296.36 million, a price-to-earnings ratio of -0.60 and a beta of 2.19. The business has a 50 day simple moving average of $1.14 and a 200 day simple moving average of $1.50.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The firm had revenue of $37.15 million for the quarter, compared to analysts’ expectations of $36.90 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter in the previous year, the company earned ($0.26) earnings per share. On average, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

About Pacific Biosciences of California

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.