UBS Asset Management Americas Inc. Acquires 10,875 Shares of Pacific Biosciences of California (NASDAQ:PACB)

UBS Asset Management Americas Inc. increased its holdings in shares of Pacific Biosciences of California (NASDAQ:PACB) by 12.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 95,519 shares of the biotechnology company’s stock after purchasing an additional 10,875 shares during the period. UBS Asset Management Americas Inc.’s holdings in Pacific Biosciences of California were worth $578,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Bluefin Trading LLC bought a new stake in shares of Pacific Biosciences of California during the 2nd quarter worth $91,000. Point72 Hong Kong Ltd bought a new position in shares of Pacific Biosciences of California during the second quarter worth about $37,000. Cubist Systematic Strategies LLC bought a new position in shares of Pacific Biosciences of California during the second quarter worth about $28,000. Westwood Holdings Group Inc. bought a new position in shares of Pacific Biosciences of California during the second quarter worth about $1,089,000. Finally, TIG Advisors LLC bought a new position in shares of Pacific Biosciences of California during the second quarter worth about $1,809,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

Several equities research analysts recently commented on PACB shares. ValuEngine raised Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Thursday. Cantor Fitzgerald set a $8.00 price objective on Pacific Biosciences of California and gave the company a “hold” rating in a research note on Thursday, June 20th. BidaskClub cut Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Finally, Piper Jaffray Companies raised Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.63.

Shares of PACB stock traded down $0.05 during trading hours on Friday, reaching $5.40. The company had a trading volume of 6,904 shares, compared to its average volume of 1,803,139. The business has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $6.20. The company has a market cap of $822.93 million, a price-to-earnings ratio of -7.13 and a beta of 1.76. Pacific Biosciences of California has a 12 month low of $3.90 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.00 and a quick ratio of 1.65.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). The firm had revenue of $24.62 million for the quarter, compared to analyst estimates 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%. On average, equities research analysts expect that Pacific Biosciences of California will post -0.64 earnings per share for the current year.

About Pacific Biosciences of California

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.

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

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