Private Wealth Partners LLC Makes New $98,000 Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Private Wealth Partners LLC bought a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the biotechnology company’s stock, valued at approximately $98,000.

Other hedge funds have also made changes to their positions in the company. Moody Aldrich Partners LLC acquired a new position in shares of Pacific Biosciences of California during the 4th quarter valued at about $4,103,000. ARK Investment Management LLC lifted its position in shares of Pacific Biosciences of California by 15.7% in the 4th quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock worth $338,487,000 after acquiring an additional 4,681,833 shares during the period. Nordea Investment Management AB lifted its position in shares of Pacific Biosciences of California by 37.5% in the 3rd quarter. Nordea Investment Management AB now owns 149,131 shares of the biotechnology company’s stock worth $1,255,000 after acquiring an additional 40,667 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Pacific Biosciences of California by 452.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 330,331 shares of the biotechnology company’s stock worth $2,758,000 after acquiring an additional 270,573 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Pacific Biosciences of California by 2,201.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,041,624 shares of the biotechnology company’s stock worth $29,838,000 after buying an additional 2,909,439 shares during the period.

Pacific Biosciences of California Trading Up 6.5 %

PACB stock traded up $0.09 during midday trading on Friday, hitting $1.47. 7,986,911 shares of the company’s stock were exchanged, compared to its average volume of 12,507,456. The stock’s fifty day moving average price is $3.66 and its 200-day moving average price is $6.37. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. The company has a market cap of $393.89 million, a PE ratio of -1.21 and a beta of 1.83. Pacific Biosciences of California, Inc. has a one year low of $1.25 and a one year high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. The firm had revenue of $58.36 million for the quarter, compared to analyst estimates of $57.96 million. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The company’s revenue for the quarter was up 113.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) earnings per share. Research analysts predict that Pacific Biosciences of California, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PACB shares. JPMorgan Chase & Co. downgraded Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research report on Monday, April 22nd. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Wednesday, April 17th. Barclays dropped their price target on Pacific Biosciences of California from $8.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, April 10th. TD Cowen dropped their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group dropped their price target on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.77.

Insiders Place Their Bets

In other news, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.96, for a total value of $200,017.60. Following the sale, the insider now directly owns 876,611 shares in the company, valued at $5,224,601.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director David W. Meline bought 40,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $176,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Oene Mark Van sold 33,560 shares of Pacific Biosciences of California stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,359 shares of company stock worth $218,843. Corporate insiders own 1.90% of the company’s stock.

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.