TD Asset Management Inc Lowers Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

TD Asset Management Inc cut its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 45.1% during the second quarter, Holdings Channel reports. The firm owned 292,686 shares of the biotechnology company’s stock after selling 240,814 shares during the quarter. TD Asset Management Inc’s holdings in Pacific Biosciences of California were worth $401,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Pacific Biosciences of California in the 1st quarter worth approximately $32,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Pacific Biosciences of California in the 1st quarter worth approximately $38,000. Quest Partners LLC purchased a new position in Pacific Biosciences of California in the 4th quarter worth approximately $168,000. Kennedy Capital Management LLC purchased a new position in Pacific Biosciences of California in the 1st quarter worth approximately $64,000. Finally, Virtu Financial LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter worth approximately $177,000.

Pacific Biosciences of California Stock Performance

Shares of Pacific Biosciences of California stock opened at $1.81 on Monday. The stock’s fifty day moving average is $1.63 and its two-hundred day moving average is $2.18. The company has a market capitalization of $492.96 million, a PE ratio of -1.59 and a beta of 2.03. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $11.86.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The company had revenue of $36.01 million for the quarter, compared to the consensus estimate of $40.52 million. As a group, analysts expect that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PACB shares. Morgan Stanley decreased their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Scotiabank decreased their price objective on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a report on Wednesday, August 28th. Jefferies Financial Group started coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They set a “buy” rating and a $4.00 price objective on the stock. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and an average price target of $4.50.

Insider Transactions at Pacific Biosciences of California

In other news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the transaction, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Pacific Biosciences of California Company 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.