Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 50.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,648 shares of the biotechnology company’s stock after purchasing an additional 21,092 shares during the quarter. Wealthfront Advisers LLC’s holdings in Pacific Biosciences of California were worth $115,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. PCA Investment Advisory Services Inc. lifted its position in shares of Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. Atom Investors LP acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth about $30,000. Atria Investments Inc lifted its position in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 10,138 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth about $40,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter worth about $45,000.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares in the company, valued at approximately $352,672.96. This trade represents a 11.49 % 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 Stock Performance

Shares of Pacific Biosciences of California stock opened at $1.24 on Tuesday. The firm has a market capitalization of $339.59 million, a P/E ratio of -0.76 and a beta of 1.86. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $4.10. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm’s 50 day moving average is $1.59 and its two-hundred day moving average is $1.78.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same period last year, the firm posted ($0.27) earnings per share. Research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PACB shares. Stephens reaffirmed an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a report on Friday, February 14th. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.79.

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.