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

Wealthfront Advisers LLC raised its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 50.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 62,648 shares of the biotechnology company’s stock after buying an additional 21,092 shares during the quarter. Wealthfront Advisers LLC’s holdings in Pacific Biosciences of California were worth $115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. ARK Investment Management LLC lifted its holdings in Pacific Biosciences of California by 7.9% in the fourth quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock valued at $65,961,000 after acquiring an additional 2,637,961 shares during the period. Geode Capital Management LLC lifted its holdings in Pacific Biosciences of California by 3.7% in the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock valued at $10,759,000 after acquiring an additional 225,034 shares during the period. State Street Corp lifted its holdings in Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock valued at $10,669,000 after acquiring an additional 340,766 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Pacific Biosciences of California by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,176,252 shares of the biotechnology company’s stock valued at $3,983,000 after acquiring an additional 135,949 shares during the period. Finally, Soros Fund Management LLC lifted its holdings in Pacific Biosciences of California by 23.6% in the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after acquiring an additional 400,000 shares during the period.

Pacific Biosciences of California Trading Up 1.6 %

Shares of PACB stock opened at $1.24 on Tuesday. The firm has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.78. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $4.10. The company has a market capitalization of $339.59 million, a price-to-earnings ratio of -0.76 and a beta of 1.86. 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 (NASDAQ:PACB) last announced its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $39.22 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.27) EPS. Research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now owns 1,597,454 shares in the company, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company’s stock, valued at $352,672.96. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Pacific Biosciences of California 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.