Mirador Capital Partners LP Has $1.19 Million Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirador Capital Partners LP increased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 506.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,373 shares of the biotechnology company’s stock after buying an additional 265,835 shares during the period. Mirador Capital Partners LP owned 0.12% of Pacific Biosciences of California worth $1,194,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PACB. Private Wealth Partners LLC acquired a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at about $98,000. Axxcess Wealth Management LLC lifted its position 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 valued at $153,000 after acquiring an additional 3,494 shares in the last quarter. Quest Partners LLC bought a new position in Pacific Biosciences of California in the 4th quarter valued at about $168,000. Virtu Financial LLC bought a new position in Pacific Biosciences of California in the 4th quarter valued at about $177,000. Finally, Interchange Capital Partners LLC lifted its position in Pacific Biosciences of California by 11.9% in the 4th quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock valued at $184,000 after acquiring an additional 1,991 shares in the last quarter.

Wall Street Analysts Forecast Growth

PACB has been the topic of several recent research reports. Barclays dropped their price target on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Morgan Stanley dropped their price target on shares of Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 15th. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and dropped their price target for the company from $7.00 to $2.50 in a research report on Thursday, April 18th. Piper Sandler dropped their target price on shares of Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, TD Cowen dropped their target price on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.38.

Pacific Biosciences of California Price Performance

Shares of NASDAQ:PACB traded down $0.02 during mid-day trading on Monday, reaching $1.36. The company had a trading volume of 910,163 shares, compared to its average volume of 9,715,395. The company has a current ratio of 9.28, a quick ratio of 8.36 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $1.76 and its 200-day moving average price is $4.46. Pacific Biosciences of California, Inc. has a one year low of $1.25 and a one year high of $14.55.

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

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.