Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC increased its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,169 shares of the biotechnology company’s stock after acquiring an additional 12,093 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Pacific Biosciences of California were worth $67,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in Pacific Biosciences of California by 4.4% during the second quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 5,000 shares during the last quarter. Swiss National Bank raised its stake in Pacific Biosciences of California by 1.3% during the first quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 6,200 shares during the period. Creative Planning raised its stake in Pacific Biosciences of California by 30.8% during the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 7,629 shares during the period. Headlands Technologies LLC purchased a new position in Pacific Biosciences of California during the first quarter worth approximately $32,000. Finally, Daiwa Securities Group Inc. raised its stake in Pacific Biosciences of California by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock worth $322,000 after purchasing an additional 9,516 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PACB shares. Canaccord Genuity Group cut 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 note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Morgan Stanley cut their price target on shares of Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Scotiabank cut their target price on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 28th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.50.

Pacific Biosciences of California Price Performance

PACB opened at $1.72 on Friday. The company has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.76. The firm has a market cap of $468.75 million, a price-to-earnings ratio of -1.15 and a beta of 2.05. Pacific Biosciences of California, Inc. has a twelve month low of $1.16 and a twelve month high of $10.65. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $36.01 million during the quarter, compared to analyst estimates 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%. Equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 directly owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 directly owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the firm’s 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 directly owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

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.