Bourne Lent Asset Management Inc. increased its stake in shares of Pacific Biosciences of California Inc. (NASDAQ:PACB) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,350 shares of the company’s stock after buying an additional 13,000 shares during the period. Pacific Biosciences of California makes up approximately 1.0% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 19th largest position. Bourne Lent Asset Management Inc.’s holdings in Pacific Biosciences of California were worth $1,241,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PACB. Trellus Management Company LLC increased its position in Pacific Biosciences of California by 39.4% in the second quarter. Trellus Management Company LLC now owns 225,000 shares of the company’s stock valued at $1,583,000 after buying an additional 63,600 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Pacific Biosciences of California during the first quarter valued at about $191,000. Iguana Healthcare Management LLC bought a new position in Pacific Biosciences of California during the first quarter valued at about $618,000. Bridger Management LLC bought a new position in Pacific Biosciences of California during the first quarter valued at about $34,823,000. Finally, Barclays PLC increased its position in Pacific Biosciences of California by 79.9% in the first quarter. Barclays PLC now owns 83,445 shares of the company’s stock valued at $668,000 after buying an additional 37,065 shares in the last quarter. Institutional investors own 66.70% of the company’s stock.

Pacific Biosciences of California Inc. (NASDAQ:PACB) traded up 5.57% on Wednesday, reaching $9.29. 1,676,725 shares of the company traded hands. The company has a 50-day moving average price of $8.50 and a 200-day moving average price of $8.66. The company’s market capitalization is $853.52 million. Pacific Biosciences of California Inc. has a 12 month low of $3.58 and a 12 month high of $14.00.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. Pacific Biosciences of California had a negative net margin of 41.57% and a negative return on equity of 77.61%. The firm had revenue of $20.70 million for the quarter, compared to the consensus estimate of $20.19 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. Equities research analysts expect that Pacific Biosciences of California Inc. will post ($0.85) EPS for the current year.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Cantor Fitzgerald restated a “buy” rating and issued a $18.00 price objective on shares of Pacific Biosciences of California in a research note on Wednesday, June 29th. Finally, CL King assumed coverage on shares of Pacific Biosciences of California in a research note on Monday, June 27th. They issued a “buy” rating and a $11.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $11.96.

In related news, SVP James Michael Phillips sold 20,000 shares of Pacific Biosciences of California stock in a transaction on Friday, July 29th. The shares were sold at an average price of $8.45, for a total transaction of $169,000.00. Following the sale, the senior vice president now owns 198,949 shares of the company’s stock, valued at approximately $1,681,119.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.80% of the company’s stock.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company’s Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes. Based on its SMRT technology, the Company has introduced the PacBio RS II System.

5 Day Chart for NASDAQ:PACB

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