TD Asset Management Inc Sells 240,814 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

TD Asset Management Inc decreased its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 45.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 292,686 shares of the biotechnology company’s stock after selling 240,814 shares during the quarter. TD Asset Management Inc owned approximately 0.11% of Pacific Biosciences of California worth $401,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PACB. Edmond DE Rothschild Holding S.A. raised its holdings in Pacific Biosciences of California by 955.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 10,507,287 shares of the biotechnology company’s stock worth $39,402,000 after purchasing an additional 9,511,787 shares in the last quarter. Vanguard Group Inc. raised its holdings in Pacific Biosciences of California by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock worth $262,806,000 after purchasing an additional 3,514,792 shares in the last quarter. Decheng Capital LLC bought a new position in Pacific Biosciences of California in the fourth quarter worth $28,845,000. Norges Bank bought a new position in Pacific Biosciences of California in the fourth quarter worth $13,486,000. Finally, Assenagon Asset Management S.A. bought a new position in Pacific Biosciences of California in the second quarter worth $1,775,000.

Pacific Biosciences of California Trading Up 0.6 %

Shares of NASDAQ:PACB opened at $1.81 on Monday. The stock has a market capitalization of $492.96 million, a price-to-earnings ratio of -1.59 and a beta of 2.03. The company has a debt-to-equity ratio of 1.81, a quick ratio of 7.14 and a current ratio of 8.01. The stock’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $2.18. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $11.86.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations 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%. Analysts expect that Pacific Biosciences of California, Inc. will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now directly owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Oene Mark Van sold 38,011 shares of the firm’s 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 transaction, the insider now owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction dated 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 directly owns 869,730 shares in the company, valued at approximately $1,382,870.70. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Canaccord Genuity Group cut 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. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Jefferies Financial Group started coverage on 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. Finally, Scotiabank cut their target price on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus target price of $4.50.

About Pacific Biosciences of California

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.