31,700 Shares in Pacific Biosciences of California (NASDAQ:PACB) Purchased by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. acquired a new position in Pacific Biosciences of California (NASDAQ:PACB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 31,700 shares of the biotechnology company’s stock, valued at approximately $192,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Syquant Capital Sas increased its holdings in Pacific Biosciences of California by 43.6% in the 2nd quarter. Syquant Capital Sas now owns 712,227 shares of the biotechnology company’s stock worth $4,309,000 after buying an additional 216,101 shares in the last quarter. Boston Private Wealth LLC bought a new stake in Pacific Biosciences of California in the 2nd quarter worth about $115,000. Marshall Wace LLP grew its stake in shares of Pacific Biosciences of California by 54.4% during the 1st quarter. Marshall Wace LLP now owns 957,214 shares of the biotechnology company’s stock valued at $6,921,000 after purchasing an additional 337,213 shares during the period. Aperio Group LLC grew its stake in shares of Pacific Biosciences of California by 20.3% during the 2nd quarter. Aperio Group LLC now owns 76,246 shares of the biotechnology company’s stock valued at $461,000 after purchasing an additional 12,844 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Pacific Biosciences of California by 63.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 75,000 shares of the biotechnology company’s stock valued at $451,000 after purchasing an additional 29,000 shares during the period. Institutional investors own 69.69% of the company’s stock.

A number of equities research analysts have issued reports on PACB shares. Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the company a “hold” rating in a research note on Thursday, June 20th. ValuEngine downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Pacific Biosciences of California has a consensus rating of “Hold” and a consensus price target of $7.50.

Shares of Pacific Biosciences of California stock traded down $0.08 during trading hours on Friday, reaching $5.03. 3,345 shares of the stock traded hands, compared to its average volume of 1,604,352. The company has a 50 day moving average price of $5.51 and a 200 day moving average price of $6.36. The firm has a market capitalization of $781.63 million, a price-to-earnings ratio of -6.67 and a beta of 1.76. Pacific Biosciences of California has a one year low of $3.90 and a one year high of $7.84. The company has a quick ratio of 1.65, a current ratio of 2.00 and a debt-to-equity ratio of 0.58.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The business had revenue of $24.62 million during the quarter, compared to the consensus estimate of $22.27 million. Pacific Biosciences of California had a negative return on equity of 106.36% and a negative net margin of 140.68%. Sell-side analysts anticipate that Pacific Biosciences of California will post -0.64 earnings per share for the current year.

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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