Gabelli Funds LLC purchased a new stake in shares of Pacific Biosciences of California (NASDAQ:PACB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,744,470 shares of the biotechnology company’s stock, valued at approximately $12,909,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pacific Biosciences of California by 37.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 2,628 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Pacific Biosciences of California during the fourth quarter valued at about $26,000. Hudock Capital Group LLC bought a new position in shares of Pacific Biosciences of California during the fourth quarter valued at about $29,000. Clean Yield Group bought a new position in shares of Pacific Biosciences of California during the fourth quarter valued at about $37,000. Finally, Bourne Lent Asset Management Inc. raised its stake in shares of Pacific Biosciences of California by 2.6% during the fourth quarter. Bourne Lent Asset Management Inc. now owns 335,650 shares of the biotechnology company’s stock valued at $2,484,000 after acquiring an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

In related news, insider Kathy Ordonez sold 25,000 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $7.54, for a total value of $188,500.00. Following the completion of the transaction, the insider now directly owns 68,750 shares of the company’s stock, valued at $518,375. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.40% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on PACB shares. 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 note on Thursday, October 11th. ValuEngine raised shares of Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Cowen downgraded shares of Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a research note on Friday, January 4th. Finally, BidaskClub downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Pacific Biosciences of California presently has an average rating of “Hold” and an average price target of $5.64.

PACB stock opened at $7.02 on Tuesday. Pacific Biosciences of California has a 1 year low of $2.02 and a 1 year high of $7.84. The stock has a market capitalization of $1.02 billion, a P/E ratio of -8.07 and a beta of 2.30. The company has a quick ratio of 5.74, a current ratio of 6.65 and a debt-to-equity ratio of 0.11.

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About Pacific Biosciences of California

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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