Pacific Biosciences of California, Inc. $PACB Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 32.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,124 shares of the biotechnology company’s stock after selling 11,583 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Pacific Biosciences of California were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PACB. Vanguard Group Inc. boosted its position in shares of Pacific Biosciences of California by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company’s stock worth $19,191,000 after purchasing an additional 1,036,606 shares in the last quarter. Koss Olinger Consulting LLC boosted its position in shares of Pacific Biosciences of California by 50.0% in the 1st quarter. Koss Olinger Consulting LLC now owns 3,000,000 shares of the biotechnology company’s stock worth $3,540,000 after purchasing an additional 1,000,000 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of Pacific Biosciences of California by 2.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 21,855,180 shares of the biotechnology company’s stock worth $25,789,000 after purchasing an additional 508,700 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter worth $576,000. Finally, ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 1.2% in the 1st quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company’s stock worth $43,045,000 after purchasing an additional 434,079 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PACB shares. Piper Sandler raised their target price on 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. Barclays reduced their target price on 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. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1.90.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $1.42 on Monday. The stock has a 50-day simple moving average of $1.31 and a two-hundred day simple moving average of $1.27. The firm has a market capitalization of $426.53 million, a P/E ratio of -0.62 and a beta of 2.10. Pacific Biosciences of California, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.72. 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 data on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share for the quarter. The company had revenue of $3.34 million for the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. On average, equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

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.