AdvisorNet Financial Inc Acquires 32,105 Shares of Pacific Biosciences of California, Inc. $PACB

AdvisorNet Financial Inc increased its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 41.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,769 shares of the biotechnology company’s stock after buying an additional 32,105 shares during the period. AdvisorNet Financial Inc’s holdings in Pacific Biosciences of California were worth $135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PACB. Vanguard Group Inc. raised its stake in shares of Pacific Biosciences of California by 6.8% during the first quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company’s stock worth $19,191,000 after buying an additional 1,036,606 shares during the last quarter. Koss Olinger Consulting LLC grew its holdings 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 purchasing an additional 1,000,000 shares during the period. Toronto Dominion Bank acquired a new position in Pacific Biosciences of California during the fourth quarter valued at approximately $1,556,000. Two Sigma Investments LP grew its holdings in Pacific Biosciences of California by 139.4% during 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 purchasing an additional 648,407 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Pacific Biosciences of California by 2.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 21,855,180 shares of the biotechnology company’s stock valued at $25,789,000 after purchasing an additional 508,700 shares during the period.

Pacific Biosciences of California Stock Down 2.4%

Pacific Biosciences of California stock opened at $1.22 on Friday. The stock has a market capitalization of $366.45 million, a PE ratio of -0.53 and a beta of 1.87. Pacific Biosciences of California, Inc. has a twelve month low of $0.85 and a twelve month high of $2.72. The company has a quick ratio of 6.02, a current ratio of 6.92 and a debt-to-equity ratio of 10.51. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.26.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. The company had revenue of $39.77 million during the quarter, compared to analysts’ expectations 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%. On average, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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 report 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 company a “neutral” rating in a report 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 report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1.90.

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.