Cibc World Markets Corp Invests $47,000 in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Cibc World Markets Corp bought a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 25,600 shares of the biotechnology company’s stock, valued at approximately $47,000.

Several other institutional investors also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. lifted its holdings in shares of Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Impact Partnership Wealth LLC increased its position in Pacific Biosciences of California by 29.5% during the 4th quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock valued at $93,000 after buying an additional 11,566 shares in the last quarter. Atom Investors LP purchased a new stake in Pacific Biosciences of California in the third quarter valued at about $30,000. Wealthfront Advisers LLC boosted its holdings in Pacific Biosciences of California by 50.8% in the fourth quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 21,092 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Pacific Biosciences of California during the third quarter worth about $40,000.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 34,405 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PACB shares. The Goldman Sachs Group decreased their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Scotiabank decreased their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a report on Tuesday. Piper Sandler reissued a “neutral” rating and set a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.46.

Pacific Biosciences of California Stock Down 2.4 %

Shares of PACB stock opened at $1.24 on Friday. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $3.89. The stock has a 50 day moving average of $1.48 and a 200 day moving average of $1.77. The stock has a market cap of $369.34 million, a P/E ratio of -0.76 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $39.22 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.27) EPS. As a group, sell-side analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

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.