IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 142.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,482 shares of the biotechnology company’s stock after buying an additional 96,118 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pacific Biosciences of California were worth $299,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PACB. PCA Investment Advisory Services Inc. lifted its holdings in shares of Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 5,000 shares in the last quarter. Impact Partnership Wealth LLC raised its position in Pacific Biosciences of California by 29.5% in the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 11,566 shares during the period. Atom Investors LP purchased a new stake in shares of Pacific Biosciences of California in the third quarter worth about $30,000. Wealthfront Advisers LLC grew its stake in shares of Pacific Biosciences of California by 50.8% in the fourth quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 21,092 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Pacific Biosciences of California during the 3rd quarter valued at about $40,000.

Analysts Set New Price Targets

PACB has been the subject of a number of analyst reports. Piper Sandler restated a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. The Goldman Sachs Group decreased their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Scotiabank dropped their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Finally, Stephens reaffirmed an “overweight” rating and set a $2.50 target price 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.46.

Pacific Biosciences of California Trading Down 8.1 %

Shares of NASDAQ PACB opened at $1.14 on Friday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The stock’s 50 day moving average price is $1.47 and its two-hundred day moving average price is $1.76. Pacific Biosciences of California, Inc. has a 52-week low of $1.11 and a 52-week high of $3.85. The stock has a market capitalization of $339.55 million, a P/E ratio of -0.70 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The business had revenue of $39.22 million for the quarter, compared to analyst estimates of $39.20 million. During the same period in the prior year, the company posted ($0.27) EPS. On average, analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In related news, insider Michele Farmer sold 24,349 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares in the company, valued at $3,242,831.62. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% 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.