Pacific Biosciences of California (PACB) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of Pacific Biosciences of California (NASDAQ:PACB) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,900 shares of the biotechnology company’s stock after buying an additional 15,200 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Pacific Biosciences of California worth $909,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PACB. JPMorgan Chase & Co. increased its position in shares of Pacific Biosciences of California by 48.8% during the third quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock worth $199,000 after acquiring an additional 12,061 shares in the last quarter. Swiss National Bank increased its position in shares of Pacific Biosciences of California by 17.3% during the third quarter. Swiss National Bank now owns 224,246 shares of the biotechnology company’s stock worth $1,213,000 after acquiring an additional 33,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Pacific Biosciences of California by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 546,299 shares of the biotechnology company’s stock worth $2,955,000 after acquiring an additional 58,409 shares in the last quarter. BlackRock Inc. increased its position in shares of Pacific Biosciences of California by 3.4% during the third quarter. BlackRock Inc. now owns 9,972,840 shares of the biotechnology company’s stock worth $53,953,000 after acquiring an additional 330,666 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Pacific Biosciences of California during the third quarter worth about $2,436,000. 67.09% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on PACB shares. BidaskClub downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 28th. Cowen downgraded shares of Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a research report on Friday, January 4th. ValuEngine downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 2nd. Stephens downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $4.50 to $8.00 in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.11.

In other Pacific Biosciences of California news, Director Kathy Ordonez sold 6,933 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $7.17, for a total transaction of $49,709.61. Following the transaction, the director now owns 63,700 shares in the company, valued at $456,729. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Hunkapiller sold 13,335 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $7.19, for a total transaction of $95,878.65. Following the completion of the transaction, the chief executive officer now owns 2,388,750 shares in the company, valued at $17,175,112.50. The disclosure for this sale can be found here. Insiders have sold 39,486 shares of company stock valued at $283,261 over the last 90 days. 13.40% of the stock is currently owned by company insiders.

Shares of PACB stock traded up $0.13 on Friday, hitting $7.39. 1,579,671 shares of the company’s stock traded hands, compared to its average volume of 1,349,115. The firm has a market cap of $1.12 billion, a P/E ratio of -9.72 and a beta of 2.39. Pacific Biosciences of California has a one year low of $2.21 and a one year high of $7.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.23 and a current ratio of 4.90.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Monday, February 11th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.08). The company had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $21.08 million. Pacific Biosciences of California had a negative return on equity of 94.50% and a negative net margin of 130.44%. As a group, analysts forecast that Pacific Biosciences of California will post -0.56 EPS for the current year.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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