Guggenheim Capital LLC Sells 17,703 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Guggenheim Capital LLC cut its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 24.5% during the fourth quarter, HoldingsChannel reports. The firm owned 54,460 shares of the biotechnology company’s stock after selling 17,703 shares during the period. Guggenheim Capital LLC’s holdings in Pacific Biosciences of California were worth $100,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. PCA Investment Advisory Services Inc. raised its stake in 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. FNY Investment Advisers LLC acquired a new position in Pacific Biosciences of California during the 4th quarter valued at $45,000. Cibc World Markets Corp acquired a new position in Pacific Biosciences of California during the 4th quarter valued at $47,000. RPO LLC acquired a new position in Pacific Biosciences of California during the 4th quarter valued at $58,000. Finally, Sanctuary Advisors LLC raised its stake in Pacific Biosciences of California by 218.3% during the 4th quarter. Sanctuary Advisors LLC now owns 35,457 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 24,318 shares during the last quarter.

Insider Activity

In other news, insider Michele Farmer sold 24,349 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the sale, the insider now directly owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by insiders.

Pacific Biosciences of California Stock Down 1.8 %

PACB opened at $1.11 on Wednesday. The firm’s 50-day simple moving average is $1.29 and its 200-day simple moving average is $1.67. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. Pacific Biosciences of California, Inc. has a twelve month low of $1.07 and a twelve month high of $2.72. The firm has a market cap of $330.62 million, a price-to-earnings ratio of -0.68 and a beta of 2.04.

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, hitting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The company had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. Equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

PACB has been the subject of several research analyst reports. Scotiabank cut their target price on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a research note on Tuesday, March 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 price target on shares of Pacific Biosciences of California in a report on Thursday, April 10th. Stephens reissued an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. Piper Sandler reissued a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their price target 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.45.

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.