IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 43,745 shares of the biotechnology company’s stock, valued at approximately $60,000.

Several other institutional investors have also bought and sold shares of PACB. Vanguard Group Inc. raised its holdings in shares of Pacific Biosciences of California by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock valued at $262,806,000 after purchasing an additional 3,514,792 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Pacific Biosciences of California by 955.5% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock valued at $39,402,000 after buying an additional 9,511,787 shares in the last quarter. Jackson Square Partners LLC increased its holdings in shares of Pacific Biosciences of California by 40.0% during the fourth quarter. Jackson Square Partners LLC now owns 9,704,766 shares of the biotechnology company’s stock worth $95,204,000 after buying an additional 2,770,901 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Pacific Biosciences of California by 1.0% during the fourth quarter. Bellevue Group AG now owns 7,317,128 shares of the biotechnology company’s stock worth $71,781,000 after purchasing an additional 71,940 shares during the last quarter. Finally, Decheng Capital LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth approximately $28,845,000.

Pacific Biosciences of California Stock Performance

Shares of Pacific Biosciences of California stock traded down $0.01 during trading on Friday, hitting $1.35. 2,389,486 shares of the company’s stock traded hands, compared to its average volume of 9,603,032. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $11.96. The stock has a market capitalization of $367.68 million, a P/E ratio of -1.21 and a beta of 2.05. The business has a 50-day simple moving average of $1.59 and a 200-day simple moving average of $2.55.

Insider Buying and Selling

In other news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now directly owns 869,730 shares in the company, valued at $1,382,870.70. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Barclays dropped their price target on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group initiated coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They set a “buy” rating and a $4.00 target price on the stock. Finally, Morgan Stanley cut their price objective on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.50.

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.