PDT Partners LLC lifted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 59.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 394,800 shares of the biotechnology company’s stock after acquiring an additional 146,423 shares during the period. PDT Partners LLC owned 0.34% of Pacific Biosciences of California worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Raging Capital Management LLC purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth $25,549,000. Vanguard Group Inc. raised its holdings in shares of Pacific Biosciences of California by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,929,300 shares of the biotechnology company’s stock worth $13,988,000 after acquiring an additional 283,216 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of Pacific Biosciences of California during the 2nd quarter worth $5,363,000. Point72 Asset Management L.P. purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth $6,613,000. Finally, Kennedy Capital Management Inc. raised its holdings in shares of Pacific Biosciences of California by 52.4% during the 2nd quarter. Kennedy Capital Management Inc. now owns 1,240,391 shares of the biotechnology company’s stock worth $4,416,000 after acquiring an additional 426,269 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Shares of Pacific Biosciences of California, Inc. (PACB) opened at 5.17 on Thursday. The company has a 50-day moving average of $5.01 and a 200 day moving average of $4.25. Pacific Biosciences of California, Inc. has a one year low of $3.08 and a one year high of $9.28. The stock’s market capitalization is $597.61 million.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results 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 business had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post ($0.89) earnings per share for the current fiscal year.

Several research analysts have recently commented on PACB shares. ValuEngine lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 13th. BidaskClub lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, CL King lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective on the stock. in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pacific Biosciences of California presently has an average rating of “Hold” and a consensus target price of $8.93.

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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.

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

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