Algert Global LLC Buys 161,066 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Algert Global LLC increased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 89.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,066 shares of the biotechnology company’s stock after acquiring an additional 161,066 shares during the quarter. Algert Global LLC owned about 0.13% of Pacific Biosciences of California worth $467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of Pacific Biosciences of California by 100.3% during the 1st quarter. BNP Paribas Financial Markets now owns 1,167,708 shares of the biotechnology company’s stock valued at $4,379,000 after purchasing an additional 584,734 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Pacific Biosciences of California during the first quarter worth about $98,000. Quantbot Technologies LP increased its position in shares of Pacific Biosciences of California by 330.4% in the first quarter. Quantbot Technologies LP now owns 88,834 shares of the biotechnology company’s stock worth $333,000 after purchasing an additional 68,195 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Pacific Biosciences of California in the second quarter valued at approximately $1,775,000. Finally, Cetera Advisors LLC bought a new stake in Pacific Biosciences of California during the first quarter valued at approximately $98,000.

Pacific Biosciences of California Price Performance

Shares of Pacific Biosciences of California stock opened at $1.70 on Tuesday. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. The company has a market cap of $463.01 million, a PE ratio of -1.49 and a beta of 2.05. The business has a 50 day moving average of $1.63 and a 200 day moving average of $1.89. 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 announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The company had revenue of $36.01 million during the quarter, compared to the consensus estimate of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. As a group, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PACB. Morgan Stanley lowered 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 research report on Monday, August 12th. Scotiabank reduced their price objective on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. Canaccord Genuity Group cut their target price on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com raised 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 research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and an average price target of $4.50.

Insider Activity at Pacific Biosciences of California

In related news, insider Jeff Eidel sold 26,760 shares of the company’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 transaction of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction 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 transaction, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

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.