Universal Beteiligungs und Servicegesellschaft mbH Has $1.04 Million Position in Pacific Biosciences of California, Inc. $PACB

Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 97.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 808,700 shares of the biotechnology company’s stock after acquiring an additional 400,000 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.27% of Pacific Biosciences of California worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its position in shares of Pacific Biosciences of California by 10.1% in the second quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 9,617 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 9,739 shares during the last quarter. Cim Investment Management Inc. grew its stake in Pacific Biosciences of California by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 12,822 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in Pacific Biosciences of California by 95.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 29,930 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 14,626 shares during the period. Finally, Prudential Financial Inc. lifted its position in Pacific Biosciences of California by 73.0% during the second quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 15,062 shares during the last quarter.

Pacific Biosciences of California Trading Down 4.6%

Shares of Pacific Biosciences of California stock opened at $2.26 on Friday. The company has a quick ratio of 5.40, a current ratio of 6.24 and a debt-to-equity ratio of 17.88. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.73. The company has a market capitalization of $682.32 million, a price-to-earnings ratio of -1.03 and a beta of 2.20. The firm’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $1.75.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $38.44 million during the quarter, compared to the consensus estimate of $40.25 million. Pacific Biosciences of California had a negative net margin of 325.02% and a negative return on equity of 101.49%. On average, analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PACB has been the topic of several research reports. Piper Sandler upped their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Barclays boosted their price target on Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Thursday, January 22nd. Finally, Stephens increased their price objective on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.08.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.