36,528 Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 36,528 shares of the biotechnology company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PACB. Hsbc Holdings PLC increased its stake in Pacific Biosciences of California by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 8,106 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Pacific Biosciences of California by 18.4% during the first quarter. AdvisorNet Financial Inc now owns 76,664 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 11,895 shares in the last quarter. Stifel Financial Corp increased its position in shares of Pacific Biosciences of California by 33.2% during the fourth quarter. Stifel Financial Corp now owns 67,531 shares of the biotechnology company’s stock worth $124,000 after acquiring an additional 16,843 shares in the last quarter. Rhumbline Advisers increased its position in shares of Pacific Biosciences of California by 4.8% during the first quarter. Rhumbline Advisers now owns 438,775 shares of the biotechnology company’s stock worth $518,000 after acquiring an additional 20,153 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Pacific Biosciences of California by 32.8% during the fourth quarter. ProShare Advisors LLC now owns 90,008 shares of the biotechnology company’s stock worth $165,000 after acquiring an additional 22,215 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating for the company in a research report on Thursday, May 15th. 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. Stephens restated an “overweight” rating and set a $1.80 price target on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Scotiabank dropped their price target on shares of 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. Finally, Barclays dropped their price target on shares of Pacific Biosciences of California from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Pacific Biosciences of California presently has a consensus rating of “Hold” and an average price target of $2.06.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $1.45 on Tuesday. The stock has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.36. Pacific Biosciences of California, Inc. has a 52-week low of $0.85 and a 52-week high of $2.72. 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 posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 430.93% and a negative return on equity of 52.07%. During the same quarter in the prior year, the company earned ($0.26) EPS. Equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Pacific Biosciences of California 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.