Vestmark Advisory Solutions Inc. Acquires 276,351 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Vestmark Advisory Solutions Inc. increased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 44.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 897,058 shares of the biotechnology company’s stock after buying an additional 276,351 shares during the period. Vestmark Advisory Solutions Inc. owned about 0.33% of Pacific Biosciences of California worth $1,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. raised its position in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Atom Investors LP purchased a new position in Pacific Biosciences of California in the third quarter valued at about $30,000. Atria Investments Inc raised its holdings in Pacific Biosciences of California by 85.7% in 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 purchased a new stake in shares of Pacific Biosciences of California during the third quarter valued at about $40,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at about $45,000.

Pacific Biosciences of California Trading Up 2.3 %

Shares of NASDAQ:PACB opened at $1.33 on Friday. The business has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.78. The stock has a market cap of $364.24 million, a price-to-earnings ratio of -0.81 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 $5.01. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The business 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. Equities analysts predict that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the business’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 value of $45,776.12. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Oene Mark Van sold 34,405 shares of the firm’s 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 sale, the insider now directly 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 disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research note on Monday, November 11th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Stephens reissued an “overweight” rating and issued a $2.50 price objective on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group decreased 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Pacific Biosciences of California currently has an average rating of “Hold” and a consensus target price of $2.79.

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.