Rpo LLC Acquires New Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Rpo LLC bought a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 31,477 shares of the biotechnology company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PACB. PCA Investment Advisory Services Inc. lifted its position 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 worth $27,000 after purchasing an additional 5,000 shares during the period. Atom Investors LP bought a new position in Pacific Biosciences of California in the third quarter worth approximately $30,000. Centiva Capital LP purchased a new stake in Pacific Biosciences of California during the third quarter worth $40,000. FNY Investment Advisers LLC bought a new stake in Pacific Biosciences of California during the 4th quarter valued at $45,000. Finally, Cibc World Markets Corp purchased a new position in shares of Pacific Biosciences of California in the 4th quarter valued at $47,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a research note on Tuesday, March 25th. Piper Sandler reissued a “neutral” rating and set a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. The Goldman Sachs Group cut their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Finally, Stephens reaffirmed an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus price target of $2.46.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.27 on Thursday. The business has a fifty day moving average of $1.44 and a 200 day moving average of $1.75. Pacific Biosciences of California, Inc. has a 1 year low of $1.08 and a 1 year high of $3.70. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The firm has a market capitalization of $378.27 million, a price-to-earnings ratio of -0.77 and a beta of 1.86.

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

Insider Buying and Selling at Pacific Biosciences of California

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

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.