ARK Investment Management LLC Boosts Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,044,362 shares of the biotechnology company’s stock after buying an additional 2,637,961 shares during the quarter. ARK Investment Management LLC owned 13.16% of Pacific Biosciences of California worth $65,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. boosted its stake in Pacific Biosciences of California by 50.0% during the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after buying an additional 5,000 shares during the period. Atom Investors LP purchased a new position in Pacific Biosciences of California during the third quarter worth $30,000. Atria Investments Inc boosted its stake in Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after buying an additional 10,138 shares during the period. Centiva Capital LP purchased a new position in Pacific Biosciences of California during the third quarter worth $40,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Pacific Biosciences of California during the third quarter valued at $43,000.

Analyst Upgrades and Downgrades

PACB has been the subject of a number of recent analyst reports. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research note on Tuesday. Stephens reissued an “overweight” rating and set a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. UBS Group lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $2.00 target price for the company. in a research note on Monday, November 11th. The Goldman Sachs Group lowered their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Finally, Scotiabank lowered their target price 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 note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.79.

Pacific Biosciences of California Stock Down 4.3 %

NASDAQ:PACB opened at $1.56 on Wednesday. Pacific Biosciences of California, Inc. has a 1-year low of $1.16 and a 1-year high of $6.09. The company has a 50-day moving average of $1.74 and a 200 day moving average of $1.79. The firm has a market cap of $427.23 million, a PE ratio of -0.95 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

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

Insiders Place Their Bets

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

Pacific Biosciences of California 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.