Dimensional Fund Advisors LP Sells 2,121,331 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Dimensional Fund Advisors LP lowered its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 61.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,313,137 shares of the biotechnology company’s stock after selling 2,121,331 shares during the quarter. Dimensional Fund Advisors LP owned 0.48% of Pacific Biosciences of California worth $1,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets lifted 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 worth $4,379,000 after buying an additional 584,734 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $98,000. Quantbot Technologies LP lifted its position in shares of 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 buying an additional 68,195 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Pacific Biosciences of California during the 2nd quarter worth approximately $1,775,000. Finally, Cetera Advisors LLC bought a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $98,000.

Wall Street Analysts Forecast Growth

PACB has been the subject of several analyst reports. Scotiabank cut their target price on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research report on Wednesday, August 28th. Canaccord Genuity Group cut their price objective on Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Morgan Stanley cut 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 research report on Monday, August 12th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Biosciences of California has an average rating of “Hold” and a consensus price target of $4.50.

Pacific Biosciences of California Trading Up 27.7 %

Shares of PACB opened at $1.98 on Friday. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $10.65. The firm has a market capitalization of $539.61 million, a PE ratio of -1.32 and a beta of 2.05. The stock’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $1.86.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The business had revenue of $36.01 million for the quarter, compared to analyst estimates of $40.52 million. As a group, research analysts predict that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In related news, insider Oene Mark Van sold 38,011 shares of the company’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 completion of the sale, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Oene Mark Van sold 38,011 shares of the company’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 completion of the sale, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeff Eidel sold 26,760 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 of the company’s stock, valued at $1,382,870.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

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.