Casdin Capital LLC Has $7.90 Million Stock Position in Pacific Biosciences of California, Inc. $PACB

Casdin Capital LLC lifted its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 483.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,223,767 shares of the biotechnology company’s stock after purchasing an additional 3,500,000 shares during the quarter. Pacific Biosciences of California accounts for about 0.5% of Casdin Capital LLC’s investment portfolio, making the stock its 29th largest holding. Casdin Capital LLC owned 1.40% of Pacific Biosciences of California worth $7,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in Pacific Biosciences of California by 10.2% during the 4th quarter. ProShare Advisors LLC now owns 63,799 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 5,883 shares during the period. Intech Investment Management LLC boosted its position in Pacific Biosciences of California by 5.2% during the 3rd quarter. Intech Investment Management LLC now owns 132,368 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 6,564 shares during the period. Rhumbline Advisers boosted its position in Pacific Biosciences of California by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 415,679 shares of the biotechnology company’s stock worth $532,000 after acquiring an additional 8,532 shares during the period. Green Alpha Advisors LLC boosted its position in Pacific Biosciences of California by 5.4% during the 4th quarter. Green Alpha Advisors LLC now owns 183,466 shares of the biotechnology company’s stock worth $343,000 after acquiring an additional 9,441 shares during the period. Finally, Mirador Capital Partners LP boosted its position in Pacific Biosciences of California by 1.7% during the 4th quarter. Mirador Capital Partners LP now owns 591,005 shares of the biotechnology company’s stock worth $1,105,000 after acquiring an additional 9,612 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PACB shares. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Tuesday, April 21st. Zacks Research lowered Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Barclays raised their price objective on Pacific Biosciences of California from $1.00 to $1.50 and gave the stock an “underweight” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $1.83.

Pacific Biosciences of California Price Performance

Shares of Pacific Biosciences of California stock opened at $1.34 on Thursday. The firm has a market cap of $416.20 million, a price-to-earnings ratio of -3.12 and a beta of 2.35. Pacific Biosciences of California, Inc. has a 52-week low of $1.09 and a 52-week high of $2.73. The stock has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.71.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $37.18 million during the quarter, compared to analyst estimates of $39.94 million. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%. As a group, equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.5 earnings per share for the current year.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.