Creative Planning Raises Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Creative Planning increased its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 30.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,409 shares of the biotechnology company’s stock after purchasing an additional 7,629 shares during the period. Creative Planning’s holdings in Pacific Biosciences of California were worth $55,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in Pacific Biosciences of California during the 2nd quarter worth about $719,000. Quantbot Technologies LP lifted its holdings in Pacific Biosciences of California by 330.4% during the 1st 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in Pacific Biosciences of California in the 2nd quarter worth about $1,775,000. Cetera Advisors LLC bought a new position in Pacific Biosciences of California in the 1st quarter worth about $98,000. Finally, Marshall Wace LLP increased its stake in Pacific Biosciences of California by 226.6% in the 2nd quarter. Marshall Wace LLP now owns 1,611,300 shares of the biotechnology company’s stock worth $2,207,000 after acquiring an additional 1,117,966 shares during the last quarter.

Insider Buying and Selling

In related news, insider Jeff Eidel sold 26,760 shares of the firm’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 transaction, the insider now directly owns 869,730 shares in the company, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the 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 owns 869,730 shares in the company, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the stock in a transaction that occurred 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 sale, 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. 2.40% of the stock is owned by corporate insiders.

Pacific Biosciences of California Price Performance

PACB opened at $1.98 on Thursday. The stock’s 50 day simple moving average is $1.91 and its 200 day simple moving average is $1.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The firm has a market cap of $539.61 million, a price-to-earnings ratio of -1.36 and a beta of 2.01.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PACB shares. Cantor Fitzgerald restated 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. Scotiabank decreased their target price on Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a research note on Monday. Morgan Stanley decreased their target price on 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. UBS Group lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Monday. Finally, Canaccord Genuity Group decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Pacific Biosciences of California currently has a consensus rating of “Hold” and an average price target of $3.63.

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.