The Manufacturers Life Insurance Company Acquires 15,567 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

The Manufacturers Life Insurance Company raised its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,815 shares of the biotechnology company’s stock after purchasing an additional 15,567 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of Pacific Biosciences of California worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplicity Wealth LLC bought a new position in Pacific Biosciences of California during the second quarter valued at about $29,000. Headlands Technologies LLC bought a new position in Pacific Biosciences of California during the first quarter valued at about $32,000. Impact Partnership Wealth LLC bought a new position in Pacific Biosciences of California during the second quarter valued at about $37,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Pacific Biosciences of California during the first quarter valued at about $38,000. Finally, SG Americas Securities LLC grew its position in Pacific Biosciences of California by 96.6% during the second quarter. SG Americas Securities LLC now owns 42,078 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 20,677 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PACB. Morgan Stanley reduced their price target on shares of 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. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group cut their target price on shares of 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. Scotiabank cut their target price on shares of 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.50.

Insider Activity at Pacific Biosciences of California

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 shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now directly owns 1,630,815 shares in the company, valued at $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Pacific Biosciences of California Trading Down 1.9 %

Shares of Pacific Biosciences of California stock opened at $2.06 on Thursday. Pacific Biosciences of California, Inc. has a 12-month low of $1.16 and a 12-month high of $10.65. The company has a market cap of $561.05 million, a price-to-earnings ratio of -1.81 and a beta of 2.05. The company has a current ratio of 8.01, a quick ratio of 7.14 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $1.65 and its 200-day moving average price is $1.82.

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

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.