Wealth Enhancement Advisory Services LLC Has $42,000 Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Wealth Enhancement Advisory Services LLC lowered its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 62.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,973 shares of the biotechnology company’s stock after selling 37,819 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Pacific Biosciences of California were worth $42,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank acquired a new position in Pacific Biosciences of California in the fourth quarter valued at approximately $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Pacific Biosciences of California by 7.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock valued at $1,010,000 after buying an additional 38,103 shares during the period. Two Sigma Advisers LP lifted its stake in Pacific Biosciences of California by 19.8% in the fourth quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock valued at $307,000 after buying an additional 27,800 shares during the period. Two Sigma Investments LP lifted its stake in Pacific Biosciences of California by 139.4% in the fourth quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company’s stock valued at $2,038,000 after buying an additional 648,407 shares during the period. Finally, Softbank Group CORP. acquired a new position in Pacific Biosciences of California in the fourth quarter valued at approximately $37,426,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price target on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. Piper Sandler dropped their price target on Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating on the stock in a research note on Thursday, May 15th. Scotiabank dropped their price target on Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, March 25th. Stephens reissued an “overweight” rating and issued a $1.80 price target on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Finally, Wall Street Zen raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. 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 stock. Based on data from MarketBeat, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus target price of $2.13.

Pacific Biosciences of California Trading Up 0.8%

NASDAQ PACB opened at $1.31 on Thursday. The company has a market cap of $393.10 million, a price-to-earnings ratio of -0.47 and a beta of 2.10. Pacific Biosciences of California, Inc. has a 52 week low of $0.85 and a 52 week high of $2.72. The business has a 50 day moving average price of $1.12 and a 200-day moving average price of $1.45. The company has a quick ratio of 5.87, a current ratio of 6.68 and a debt-to-equity ratio of 7.05.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $37.15 million during the quarter, compared to the consensus estimate of $36.90 million. Pacific Biosciences of California had a negative return on equity of 52.07% and a negative net margin of 430.93%. During the same quarter in the previous year, the company posted ($0.26) earnings per share. As a group, equities analysts expect that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Pacific Biosciences of California Company Profile

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.