Bourne Lent Asset Management Inc. boosted its position in Pacific Biosciences of California Inc. (NASDAQ:PACB) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,350 shares of the company’s stock after buying an additional 13,000 shares during the period. Pacific Biosciences of California accounts for 1.0% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 19th largest position. Bourne Lent Asset Management Inc. owned about 0.20% of Pacific Biosciences of California worth $1,241,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of PACB. IFP Advisors Inc raised its position in shares of Pacific Biosciences of California by 16.7% in the first quarter. IFP Advisors Inc now owns 66,575 shares of the company’s stock worth $566,000 after buying an additional 9,539 shares during the period. Teachers Advisors Inc. raised its position in shares of Pacific Biosciences of California by 560.9% in the first quarter. Teachers Advisors Inc. now owns 581,959 shares of the company’s stock worth $4,947,000 after buying an additional 493,907 shares during the period. BlackRock Inc. raised its position in shares of Pacific Biosciences of California by 11.5% in the first quarter. BlackRock Inc. now owns 162,042 shares of the company’s stock worth $1,378,000 after buying an additional 16,693 shares during the period. BlackRock Group LTD raised its position in shares of Pacific Biosciences of California by 5.7% in the first quarter. BlackRock Group LTD now owns 321,298 shares of the company’s stock worth $2,731,000 after buying an additional 17,397 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Pacific Biosciences of California by 12.6% in the first quarter. BlackRock Fund Advisors now owns 2,847,543 shares of the company’s stock worth $24,204,000 after buying an additional 318,167 shares during the period. Institutional investors own 66.70% of the company’s stock.

Shares of Pacific Biosciences of California Inc. (NASDAQ:PACB) traded up 5.57% during trading on Wednesday, hitting $9.29. The company had a trading volume of 1,676,725 shares. Pacific Biosciences of California Inc. has a 52-week low of $3.58 and a 52-week high of $14.00. The firm’s market capitalization is $853.52 million. The stock’s 50-day moving average is $8.50 and its 200 day moving average is $8.66.

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

PACB has been the subject of a number of research analyst reports. Zacks Investment Research lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. CL King initiated coverage on Pacific Biosciences of California in a research note on Monday, June 27th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $18.00 target price on shares of Pacific Biosciences of California in a research note on Wednesday, June 29th. Three investment 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 the business’s 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 completion of the transaction, the senior vice president now owns 198,949 shares in the company, valued at $1,681,119.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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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