Pacific Biosciences of California, Inc. (NASDAQ:PACB) Position Lifted by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 54.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,364 shares of the biotechnology company’s stock after acquiring an additional 23,619 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pacific Biosciences of California were worth $115,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $38,000. Kennedy Capital Management LLC bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth about $64,000. Virtu Financial LLC bought a new position in shares of Pacific Biosciences of California in the 4th quarter worth about $177,000. Finally, Water Island Capital LLC lifted its position in shares of Pacific Biosciences of California by 91.1% in the 2nd quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 9,537 shares during the last quarter.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of Pacific Biosciences of California stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the transaction, the insider now owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the transaction, the insider now directly owns 869,730 shares in the company, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 1,630,815 shares of the company’s stock, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Scotiabank dropped their price objective on shares of 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. Morgan Stanley dropped their price objective on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.50.

Pacific Biosciences of California Stock Up 4.2 %

Pacific Biosciences of California stock opened at $1.98 on Friday. The stock has a market cap of $539.61 million, a price-to-earnings ratio of -1.32 and a beta of 2.05. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $1.66 and its two-hundred day moving average price is $1.81. Pacific Biosciences of California, Inc. has a 52 week low of $1.16 and a 52 week high of $10.65.

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

About Pacific Biosciences of California

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.