Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,308 shares of the biotechnology company’s stock after acquiring an additional 9,516 shares during the quarter. Daiwa Securities Group Inc. owned about 0.09% of Pacific Biosciences of California worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Pacific Biosciences of California by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,966,837 shares of the biotechnology company’s stock worth $19,295,000 after purchasing an additional 127,855 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Pacific Biosciences of California by 0.5% during the 4th quarter. BNP Paribas Financial Markets now owns 582,974 shares of the biotechnology company’s stock valued at $5,719,000 after buying an additional 2,832 shares during the period. Norges Bank acquired a new stake in shares of Pacific Biosciences of California during the 4th quarter worth $13,486,000. Dynamic Technology Lab Private Ltd raised its position in shares of Pacific Biosciences of California by 878.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 153,122 shares of the biotechnology company’s stock worth $1,502,000 after buying an additional 137,474 shares during the period. Finally, Quest Partners LLC acquired a new position in Pacific Biosciences of California in the fourth quarter valued at $168,000.

Analyst Upgrades and Downgrades

PACB has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Morgan Stanley cut their price target on shares of 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. Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a research report on Monday, June 3rd. They issued a “buy” rating and a $4.00 price objective for the company. Scotiabank cut their target price on shares of 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. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.50.

Insider Buying and Selling

In other news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now directly 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 the SEC website. In related news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff Eidel sold 26,760 shares of the company’s 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 transaction, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Pacific Biosciences of California Stock Up 2.2 %

NASDAQ:PACB opened at $1.85 on Tuesday. The stock has a 50-day simple moving average of $1.64 and a 200 day simple moving average of $2.15. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year high of $10.65. The company has a market capitalization of $504.18 million, a price-to-earnings ratio of -1.62 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.

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, topping analysts’ consensus estimates of ($0.24) by $0.04. The firm 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 net margin of 211.99% and a negative return on equity of 40.98%. Sell-side analysts predict that Pacific Biosciences of California, Inc. will post -0.95 EPS for the current fiscal 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.