Impact Partnership Wealth LLC Makes New $37,000 Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Impact Partnership Wealth LLC bought a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,076 shares of the biotechnology company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $32,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Pacific Biosciences of California in the first quarter worth about $38,000. Quest Partners LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth about $168,000. Kennedy Capital Management LLC purchased a new position in Pacific Biosciences of California in the first quarter worth about $64,000. Finally, Virtu Financial LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth about $177,000.

Insider Transactions at Pacific Biosciences of California

In related news, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the transaction, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the transaction, the insider now owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB opened at $1.40 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $11.96. The stock’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $2.37. The company has a market cap of $381.54 million, a price-to-earnings ratio of -1.23 and a beta of 2.04.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. The business had revenue of $36.01 million for the quarter, compared to the consensus estimate of $40.52 million. As a group, equities analysts anticipate that Pacific Biosciences of California, Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PACB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research report on Thursday, August 8th. Scotiabank lowered their price objective on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. Piper Sandler lowered their price objective on Pacific Biosciences of California from $6.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Barclays lowered their price objective on Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Finally, Jefferies Financial Group started coverage on Pacific Biosciences of California in a research report on Monday, June 3rd. They set a “buy” rating and a $4.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus price target of $4.50.

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.