Invesco Ltd. Raises Stake in Pacific Biosciences of California, Inc. $PACB

Invesco Ltd. increased its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 100.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 524,643 shares of the biotechnology company’s stock after acquiring an additional 263,067 shares during the period. Invesco Ltd. owned approximately 0.17% of Pacific Biosciences of California worth $619,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 1.2% in the first quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company’s stock worth $43,045,000 after acquiring an additional 434,079 shares during the last quarter. Softbank Group CORP. acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter worth approximately $37,426,000. Millennium Management LLC boosted its position in shares of Pacific Biosciences of California by 66.9% in the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company’s stock worth $31,230,000 after acquiring an additional 6,840,953 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Pacific Biosciences of California by 6.8% in the first quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company’s stock worth $19,191,000 after acquiring an additional 1,036,606 shares during the last quarter. Finally, Koss Olinger Consulting LLC lifted its position in Pacific Biosciences of California by 50.0% during the first quarter. Koss Olinger Consulting LLC now owns 3,000,000 shares of the biotechnology company’s stock valued at $3,540,000 after buying an additional 1,000,000 shares in the last quarter.

Pacific Biosciences of California Stock Down 1.6%

Shares of NASDAQ:PACB opened at $1.24 on Friday. The stock has a market capitalization of $372.46 million, a price-to-earnings ratio of -0.54 and a beta of 1.87. Pacific Biosciences of California, Inc. has a 1-year low of $0.85 and a 1-year high of $2.72. The company’s fifty day moving average is $1.39 and its two-hundred day moving average is $1.28. The company has a debt-to-equity ratio of 10.51, a quick ratio of 6.02 and a current ratio of 6.92.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. The business had revenue of $39.77 million during the quarter, compared to analyst estimates of $36.35 million. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. Equities analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PACB. Stephens reiterated an “overweight” rating and set a $1.80 price objective on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Barclays decreased their price objective on shares of Pacific Biosciences of California from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Wednesday, June 25th. Piper Sandler boosted their price objective on shares of Pacific Biosciences of California from $1.25 to $1.50 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $1.90.

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.