SG Americas Securities LLC Sells 8,370 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

SG Americas Securities LLC reduced its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 19.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,708 shares of the biotechnology company’s stock after selling 8,370 shares during the period. SG Americas Securities LLC’s holdings in Pacific Biosciences of California were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its stake in shares of Pacific Biosciences of California by 4.4% during the second quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 5,000 shares during the last quarter. Swiss National Bank lifted its holdings in Pacific Biosciences of California by 1.3% during the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after buying an additional 6,200 shares in the last quarter. Headlands Technologies LLC bought a new position in Pacific Biosciences of California in the 1st quarter valued at $32,000. Daiwa Securities Group Inc. increased its stake in shares of Pacific Biosciences of California by 4.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 9,516 shares during the period. Finally, Water Island Capital LLC raised its position in shares of Pacific Biosciences of California by 91.1% during the second quarter. Water Island Capital LLC now owns 20,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 9,537 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PACB. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Morgan Stanley lowered 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. Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 price objective on shares of Pacific Biosciences of California in a report on Thursday, August 8th. Canaccord Genuity Group reduced their price objective on shares of 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. Finally, Scotiabank dropped 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

Insider Buying and Selling

In related news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction 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 approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,707,152.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California 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 completion of the sale, the insider now directly owns 869,730 shares in the company, valued at approximately $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 company insiders.

Pacific Biosciences of California Stock Up 4.0 %

NASDAQ:PACB opened at $1.84 on Tuesday. The stock has a market cap of $501.46 million, a price-to-earnings ratio of -1.23 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 stock has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $1.72. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65.

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