Walleye Capital LLC Raises Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Walleye Capital LLC grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACBGet Rating) by 414.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,225 shares of the biotechnology company’s stock after purchasing an additional 41,272 shares during the quarter. Walleye Capital LLC’s holdings in Pacific Biosciences of California were worth $466,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Ieq Capital LLC purchased a new position in shares of Pacific Biosciences of California in the 1st quarter worth $104,000. Invesco Ltd. boosted its holdings in Pacific Biosciences of California by 3,355.2% in the fourth quarter. Invesco Ltd. now owns 3,195,790 shares of the biotechnology company’s stock valued at $65,386,000 after purchasing an additional 3,103,297 shares during the last quarter. IHT Wealth Management LLC grew its stake in Pacific Biosciences of California by 39.8% during the 4th quarter. IHT Wealth Management LLC now owns 17,700 shares of the biotechnology company’s stock valued at $362,000 after purchasing an additional 5,039 shares in the last quarter. Blue Water Life Science Advisors LP purchased a new stake in Pacific Biosciences of California during the 1st quarter worth approximately $24,206,000. Finally, Kennedy Capital Management Inc. raised its position in shares of Pacific Biosciences of California by 156.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 220,106 shares of the biotechnology company’s stock valued at $4,503,000 after purchasing an additional 134,269 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PACB shares. Canaccord Genuity Group cut their target price on Pacific Biosciences of California from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Piper Sandler dropped their price target on Pacific Biosciences of California from $7.50 to $6.00 in a research report on Sunday, August 21st. Finally, Cowen dropped their price target on Pacific Biosciences of California to $8.00 in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Pacific Biosciences of California Trading Down 5.4 %

Shares of PACB stock opened at $5.41 on Friday. The stock has a 50-day simple moving average of $5.88 and a 200 day simple moving average of $6.45. Pacific Biosciences of California, Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $31.10. The stock has a market capitalization of $1.22 billion, a P/E ratio of -5.88 and a beta of 1.33. The company has a quick ratio of 11.07, a current ratio of 11.50 and a debt-to-equity ratio of 1.31.

Pacific Biosciences of California (NASDAQ:PACBGet Rating) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). Pacific Biosciences of California had a negative return on equity of 35.76% and a negative net margin of 147.39%. The business had revenue of $35.47 million during the quarter, compared to analysts’ expectations of $35.54 million. During the same quarter last year, the business posted ($0.21) earnings per share. On average, sell-side analysts expect that Pacific Biosciences of California, Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Activity at Pacific Biosciences of California

In related news, insider Christian O. Henry sold 91,307 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $5.78, for a total value of $527,754.46. Following the completion of the transaction, the insider now owns 688,551 shares in the company, valued at approximately $3,979,824.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.

Pacific Biosciences of California Profile

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Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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