Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Bought by Carret Asset Management LLC

Carret Asset Management LLC grew its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 31.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 215,000 shares of the biotechnology company’s stock after purchasing an additional 52,000 shares during the quarter. Carret Asset Management LLC owned 0.08% of Pacific Biosciences of California worth $393,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PACB. Atria Investments Inc increased its position in shares of Pacific Biosciences of California by 85.7% during the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 10,138 shares during the period. Intech Investment Management LLC acquired a new position in shares of Pacific Biosciences of California during the 3rd quarter valued at $190,000. Charles Schwab Investment Management Inc. increased its position in shares of Pacific Biosciences of California by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock valued at $3,469,000 after purchasing an additional 82,807 shares during the period. Senvest Management LLC grew its holdings in shares of Pacific Biosciences of California by 36.1% in the 3rd quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after acquiring an additional 290,000 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Pacific Biosciences of California by 641.3% in the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after acquiring an additional 353,092 shares during the last quarter.

Insider Activity at Pacific Biosciences of California

In related news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction 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 completion of the sale, the insider now owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following 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. Insiders own 2.40% of the company’s stock.

Pacific Biosciences of California Stock Performance

Shares of Pacific Biosciences of California stock opened at $1.22 on Friday. The stock has a market cap of $334.11 million, a PE ratio of -0.74 and a beta of 1.86. The business has a fifty day simple moving average of $1.60 and a 200-day simple moving average of $1.77. 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, Inc. has a 12 month low of $1.16 and a 12 month high of $4.10.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter last year, the firm earned ($0.27) earnings per share. On average, sell-side 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 topic of a number of recent research reports. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Stephens restated 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 restated a “neutral” rating and issued a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Finally, The Goldman Sachs Group decreased their target price on 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, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.