Universal Beteiligungs und Servicegesellschaft mbH Acquires New Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Universal Beteiligungs und Servicegesellschaft mbH acquired 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 (SEC). The fund acquired 408,700 shares of the biotechnology company’s stock, valued at approximately $482,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.14% of Pacific Biosciences of California as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sandbox Financial Partners LLC bought a new position in Pacific Biosciences of California in the 1st quarter worth approximately $32,000. Hartline Investment Corp bought a new position in Pacific Biosciences of California in the 1st quarter worth approximately $37,000. First Trust Advisors LP bought a new position in Pacific Biosciences of California in the 4th quarter worth approximately $42,000. Boothbay Fund Management LLC bought a new position in Pacific Biosciences of California in the 4th quarter worth approximately $43,000. Finally, Teacher Retirement System of Texas bought a new position in Pacific Biosciences of California in the 1st quarter worth approximately $43,000.

Pacific Biosciences of California Price Performance

PACB opened at $1.33 on Monday. 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, Inc. has a 12-month low of $0.85 and a 12-month high of $2.72. The stock has a fifty day moving average of $1.32 and a 200-day moving average of $1.33. The firm has a market capitalization of $399.11 million, a P/E ratio of -0.48 and a beta of 2.17.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. Pacific Biosciences of California had a negative return on equity of 52.07% and a negative net margin of 430.93%. The business had revenue of $37.15 million during the quarter, compared to analyst estimates of $36.90 million. During the same period last year, the company earned ($0.26) earnings per share. Equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PACB. Barclays cut their price objective on Pacific Biosciences of California from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Wednesday, June 25th. Piper Sandler cut their price objective on 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 reiterated a “buy” rating and set a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. Finally, Stephens reiterated an “overweight” rating and set a $1.80 price objective on shares of Pacific Biosciences of California in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.06.

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.