Alliancebernstein L.P. maintained its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the first quarter, Holdings Channel reports. The fund owned 78,500 shares of the biotechnology company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Pacific Biosciences of California were worth $406,000 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. Gilder Gagnon Howe & Co. LLC boosted its position in Pacific Biosciences of California by 204.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,618,977 shares of the biotechnology company’s stock valued at $18,710,000 after buying an additional 2,429,528 shares during the last quarter. Wells Fargo & Company MN raised its position in Pacific Biosciences of California by 65.6% in the first quarter. Wells Fargo & Company MN now owns 220,446 shares of the biotechnology company’s stock valued at $1,140,000 after buying an additional 87,308 shares during the period. Essex Investment Management Co. LLC raised its position in Pacific Biosciences of California by 101.5% in the first quarter. Essex Investment Management Co. LLC now owns 150,518 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 75,837 shares during the period. Acadian Asset Management LLC acquired a new position in Pacific Biosciences of California during the first quarter valued at $368,000. Finally, State Street Corp raised its position in Pacific Biosciences of California by 5.2% in the fourth quarter. State Street Corp now owns 1,386,134 shares of the biotechnology company’s stock valued at $5,270,000 after buying an additional 68,226 shares during the period. 55.42% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Biosciences of California, Inc. (PACB) traded up 4.1488% during trading on Friday, hitting $4.2701. 99,052 shares of the stock traded hands. The firm’s 50-day moving average is $3.54 and its 200 day moving average is $4.25. Pacific Biosciences of California, Inc. has a 52 week low of $3.08 and a 52 week high of $9.50. The stock’s market cap is $493.59 million.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.02. Pacific Biosciences of California had a negative return on equity of 93.31% and a negative net margin of 89.67%. The company had revenue of $20.07 million for the quarter, compared to the consensus estimate of $23.34 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post ($0.90) earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Cantor Fitzgerald set a $8.00 price objective on shares of Pacific Biosciences of California and gave the company a “buy” rating in a research report on Thursday, April 27th. Finally, ValuEngine lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.00.

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 is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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

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