Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,176,252 shares of the biotechnology company’s stock after buying an additional 135,949 shares during the period. Charles Schwab Investment Management Inc. owned 0.79% of Pacific Biosciences of California worth $3,983,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its holdings in shares of Pacific Biosciences of California by 7.9% during the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock worth $65,961,000 after buying an additional 2,637,961 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pacific Biosciences of California by 3.7% in the third quarter. Geode Capital Management LLC now owns 6,327,906 shares of the biotechnology company’s stock worth $10,759,000 after acquiring an additional 225,034 shares in the last quarter. State Street Corp boosted its position in shares of Pacific Biosciences of California by 5.7% in the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after buying an additional 340,766 shares during the period. Soros Fund Management LLC grew its stake in shares of Pacific Biosciences of California by 23.6% in the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock valued at $3,567,000 after buying an additional 400,000 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Pacific Biosciences of California by 143.0% during the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after buying an additional 350,196 shares during the period.

Pacific Biosciences of California Price Performance

Shares of NASDAQ PACB opened at $1.27 on Thursday. The stock has a market cap of $378.27 million, a P/E ratio of -0.77 and a beta of 1.86. The firm’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $1.77. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $3.89. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter last year, the company earned ($0.27) EPS. Equities analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling

In other news, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction on Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michele Farmer sold 24,349 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PACB has been the subject of several recent research reports. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Scotiabank cut their price objective on Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group decreased their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Piper Sandler reaffirmed a “neutral” rating and set a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Finally, Stephens reissued an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $2.46.

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.