Pacific Biosciences of California, Inc. (PACB) Stake Decreased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 33.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,011 shares of the biotechnology company’s stock after selling 294,233 shares during the period. Lord Abbett & CO. LLC owned 0.51% of Pacific Biosciences of California worth $2,112,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PACB. Bank of New York Mellon Corp lifted its holdings in shares of Pacific Biosciences of California by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 407,898 shares of the biotechnology company’s stock worth $2,108,000 after acquiring an additional 17,794 shares during the period. Karp Capital Management Corp acquired a new stake in Pacific Biosciences of California during the 1st quarter worth approximately $116,000. Parametric Portfolio Associates LLC increased its position in Pacific Biosciences of California by 55.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 184,755 shares of the biotechnology company’s stock worth $955,000 after purchasing an additional 65,899 shares in the last quarter. American International Group Inc. increased its position in Pacific Biosciences of California by 7.4% during the 1st quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 3,258 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Pacific Biosciences of California by 19.0% during the 1st quarter. Teachers Advisors LLC now owns 983,710 shares of the biotechnology company’s stock worth $5,086,000 after purchasing an additional 157,145 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Shares of Pacific Biosciences of California, Inc. (NASDAQ PACB) opened at 4.23 on Wednesday. The firm’s market cap is $488.95 million. Pacific Biosciences of California, Inc. has a 52-week low of $3.08 and a 52-week high of $8.38. The company’s 50-day moving average is $4.85 and its 200-day moving average is $4.17.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). Pacific Biosciences of California had a negative return on equity of 93.31% and a negative net margin of 89.67%. The company had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post ($0.89) earnings per share for the current fiscal year.

A number of analysts recently issued reports on the stock. CL King downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price for the company. in a research report on Thursday, September 28th. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.93.

TRADEMARK VIOLATION WARNING: “Pacific Biosciences of California, Inc. (PACB) Stake Decreased by Lord Abbett & CO. LLC” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.com-unik.info/2017/11/01/pacific-biosciences-of-california-inc-pacb-stake-decreased-by-lord-abbett-co-llc.html.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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

What are top analysts saying about Pacific Biosciences of California Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pacific Biosciences of California Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit