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

ARK Investment Management LLC increased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 7.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 36,044,362 shares of the biotechnology company’s stock after buying an additional 2,637,961 shares during the period. ARK Investment Management LLC owned 0.13% of Pacific Biosciences of California worth $65,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. increased its holdings in 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 buying an additional 5,000 shares during the period. Atom Investors LP acquired a new position in Pacific Biosciences of California in the 3rd quarter worth approximately $30,000. Atria Investments Inc increased its holdings in Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares during the period. Centiva Capital LP acquired a new position in Pacific Biosciences of California in the 3rd quarter worth approximately $40,000. Finally, Ballentine Partners LLC acquired a new position in Pacific Biosciences of California in the 3rd quarter worth approximately $43,000.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, 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 transaction of $45,776.12. Following the sale, the insider now owns 187,592 shares of the company’s stock, valued at $352,672.96. The trade was a 11.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.56 on Wednesday. The company’s fifty day moving average price is $1.74 and its 200 day moving average price is $1.79. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $6.09. The stock has a market capitalization of $427.23 million, a P/E ratio of -0.95 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The firm had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. During the same quarter last year, the company earned ($0.27) EPS. As a group, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Scotiabank cut their price target on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. Piper Sandler restated a “neutral” rating and issued a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Monday, November 11th. Finally, Stephens restated 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.