Mirador Capital Partners LP Increases Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirador Capital Partners LP lifted its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 263.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,212 shares of the biotechnology company’s stock after buying an additional 161,818 shares during the quarter. Mirador Capital Partners LP owned about 0.08% of Pacific Biosciences of California worth $379,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clear Harbor Asset Management LLC boosted its holdings in shares of Pacific Biosciences of California by 4.4% in the second quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after acquiring an additional 5,000 shares during the period. Swiss National Bank boosted its stake in Pacific Biosciences of California by 1.3% during the 1st 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. Green Alpha Advisors LLC grew its position in Pacific Biosciences of California by 20.5% during the 1st quarter. Green Alpha Advisors LLC now owns 49,947 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 8,512 shares during the last quarter. Headlands Technologies LLC acquired a new position in Pacific Biosciences of California in the first quarter valued at $32,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Pacific Biosciences of California by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 9,516 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target 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 target on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 28th. Canaccord Genuity Group dropped their price objective 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. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $3.50 target price on shares of Pacific Biosciences of California in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.50.

Insiders Place Their Bets

In related news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $1.66, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 869,730 shares in the company, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Oene Mark Van sold 38,011 shares of the company’s 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 sale, the insider now directly owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $1.72 on Friday. Pacific Biosciences of California, Inc. has a 12 month low of $1.16 and a 12 month high of $10.65. The stock’s 50-day moving average is $1.64 and its 200-day moving average is $1.92. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. The company has a market cap of $468.45 million, a price-to-earnings ratio of -1.51 and a beta of 2.05.

Pacific Biosciences of California (NASDAQ:PACB) last released 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 analyst estimates of $40.52 million. Equities analysts anticipate that Pacific Biosciences of California, Inc. will post -0.95 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.