Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock Holdings Lifted by Carret Asset Management LLC

Carret Asset Management LLC raised its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 52.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the biotechnology company’s stock after purchasing an additional 11,000 shares during the period. Carret Asset Management LLC’s holdings in Pacific Biosciences of California were worth $120,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC bought a new position in Pacific Biosciences of California during the third quarter valued at approximately $242,000. Qube Research & Technologies Ltd raised its holdings in shares of Pacific Biosciences of California by 452.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 330,331 shares of the biotechnology company’s stock valued at $2,758,000 after purchasing an additional 270,573 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 3,494 shares during the last quarter. Seven Eight Capital LP boosted its holdings in Pacific Biosciences of California by 1,112.2% in the third quarter. Seven Eight Capital LP now owns 241,256 shares of the biotechnology company’s stock worth $2,014,000 after purchasing an additional 221,353 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Pacific Biosciences of California by 0.6% during the third quarter. Vanguard Group Inc. now owns 23,274,760 shares of the biotechnology company’s stock worth $194,344,000 after buying an additional 147,993 shares during the last quarter.

Pacific Biosciences of California Trading Up 1.6 %

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

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

Analysts Set New Price Targets

PACB has been the subject of several recent analyst reports. TD Cowen decreased their price target on Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Scotiabank decreased 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 report on Thursday, April 18th. Sanford C. Bernstein dropped their price target on shares of Pacific Biosciences of California from $9.00 to $2.50 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Barclays reduced their price objective on shares of Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a research note on Monday, June 3rd. They issued a “buy” rating and a $4.00 target price on the stock. One investment 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.com, the stock currently has a consensus rating of “Hold” and an average 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.