Carret Asset Management LLC Boosts Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Carret Asset Management LLC increased its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 52.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 32,000 shares of the biotechnology company’s stock after buying an additional 11,000 shares during the quarter. Carret Asset Management LLC’s holdings in Pacific Biosciences of California were worth $120,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Interchange Capital Partners LLC grew its position in shares of Pacific Biosciences of California by 11.9% during the 4th quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock valued at $184,000 after purchasing an additional 1,991 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Pacific Biosciences of California by 0.5% in the 4th quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock worth $5,719,000 after acquiring an additional 2,832 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in Pacific Biosciences of California by 23.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 3,494 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Pacific Biosciences of California by 22.7% in the 4th quarter. AdvisorNet Financial Inc now owns 35,520 shares of the biotechnology company’s stock valued at $348,000 after acquiring an additional 6,577 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its position in shares of Pacific Biosciences of California by 13.1% during the 4th quarter. Clear Harbor Asset Management LLC now owns 64,050 shares of the biotechnology company’s stock valued at $628,000 after acquiring an additional 7,400 shares during the last quarter.

Pacific Biosciences of California Price Performance

Shares of PACB stock opened at $1.30 on Thursday. The company has a quick ratio of 8.36, a current ratio of 9.28 and a debt-to-equity ratio of 1.38. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $14.55. The stock’s 50-day moving average price is $1.75 and its 200-day moving average price is $4.32.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts’ consensus estimates of ($0.26). The firm had revenue of $38.81 million during the quarter, compared to analysts’ expectations of $38.78 million. Pacific Biosciences of California had a negative return on equity of 40.26% and a negative net margin of 148.13%. Analysts expect that Pacific Biosciences of California, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

PACB has been the topic of a number of research analyst reports. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Wednesday, June 26th. TD Cowen dropped their target price on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Scotiabank cut their target price on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 18th. Jefferies Financial Group began coverage on shares of Pacific Biosciences of California in a research note on Monday, June 3rd. They set a “buy” rating and a $4.00 price target on the stock. Finally, Morgan Stanley dropped their target price on Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.38.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.