Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC increased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 44.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,169 shares of the biotechnology company’s stock after buying an additional 12,093 shares during the period. Impact Partnership Wealth LLC’s holdings in Pacific Biosciences of California were worth $67,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Pacific Biosciences of California in the 1st quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Pacific Biosciences of California in the 1st quarter valued at about $38,000. Kennedy Capital Management LLC acquired a new position in shares of Pacific Biosciences of California in the 1st quarter valued at about $64,000. Water Island Capital LLC boosted its holdings in shares of Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 9,537 shares during the period. Finally, Simplicity Wealth LLC acquired a new position in shares of Pacific Biosciences of California in the 2nd quarter valued at about $29,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PACB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Morgan Stanley cut their price objective on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Scotiabank cut their price objective on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Finally, Canaccord Genuity Group cut their price objective on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $4.50.

Pacific Biosciences of California Stock Down 1.7 %

PACB stock opened at $1.72 on Friday. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $10.65. The company has a market capitalization of $468.75 million, a price-to-earnings ratio of -1.15 and a beta of 2.05. The firm’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.76. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Pacific Biosciences of California had a negative net margin of 211.99% and a negative return on equity of 40.98%. The company had revenue of $36.01 million for the quarter, compared to the consensus estimate of $40.52 million. On average, analysts forecast that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the sale, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

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.