IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Free Report) 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
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.
View Our Latest Stock Report on PACB
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.
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