Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 218.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,457 shares of the biotechnology company’s stock after buying an additional 24,318 shares during the period. Sanctuary Advisors LLC’s holdings in Pacific Biosciences of California were worth $65,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PCA Investment Advisory Services Inc. boosted its holdings in shares of Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 5,000 shares in the last quarter. Atom Investors LP purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at $30,000. Atria Investments Inc raised its position in Pacific Biosciences of California by 85.7% in the 3rd quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 10,138 shares during the last quarter. Centiva Capital LP purchased a new stake in Pacific Biosciences of California in the 3rd quarter valued at $40,000. Finally, FNY Investment Advisers LLC purchased a new stake in Pacific Biosciences of California in the 4th quarter valued at $45,000.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $1.30 on Friday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $5.01. The stock has a market cap of $356.02 million, a PE ratio of -0.79 and a beta of 1.86. The firm’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The business had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. During the same period in the prior year, the company posted ($0.27) EPS. Analysts expect that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Transactions at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 34,405 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the completion of the transaction, the insider now directly owns 1,597,454 shares in the company, valued at approximately $3,242,831.62. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele Farmer sold 24,349 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares of the company’s stock, valued at $352,672.96. This trade represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Piper Sandler reiterated a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a research report on Friday, February 14th. UBS Group downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 price target for the company. in a research report on Monday, November 11th. Finally, Scotiabank cut their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pacific Biosciences of California currently has an average rating of “Hold” and a consensus target price of $2.79.

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.