Pacific Biosciences of California (NASDAQ:PACB) – Research analysts at Cantor Fitzgerald decreased their FY2019 EPS estimates for shares of Pacific Biosciences of California in a research note issued on Monday, April 15th. Cantor Fitzgerald analyst J. Abrams now anticipates that the biotechnology company will post earnings per share of ($0.55) for the year, down from their prior estimate of ($0.52).
Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Monday, February 11th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). The firm had revenue of $19.53 million for the quarter, compared to analyst estimates of $21.08 million. Pacific Biosciences of California had a negative return on equity of 94.50% and a negative net margin of 130.44%.
PACB stock opened at $7.26 on Thursday. The company has a current ratio of 4.90, a quick ratio of 4.23 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -9.55 and a beta of 2.39. Pacific Biosciences of California has a fifty-two week low of $2.21 and a fifty-two week high of $7.84.
Several hedge funds and other institutional investors have recently modified their holdings of PACB. JPMorgan Chase & Co. grew its position in Pacific Biosciences of California by 48.8% in the third quarter. JPMorgan Chase & Co. now owns 36,801 shares of the biotechnology company’s stock valued at $199,000 after acquiring an additional 12,061 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pacific Biosciences of California by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 546,299 shares of the biotechnology company’s stock valued at $2,955,000 after acquiring an additional 58,409 shares in the last quarter. BlackRock Inc. grew its holdings in Pacific Biosciences of California by 3.4% during the third quarter. BlackRock Inc. now owns 9,972,840 shares of the biotechnology company’s stock worth $53,953,000 after buying an additional 330,666 shares in the last quarter. Virtu Financial LLC bought a new stake in Pacific Biosciences of California during the third quarter worth $212,000. Finally, Tower Research Capital LLC TRC bought a new stake in Pacific Biosciences of California during the third quarter worth $107,000. Institutional investors own 67.09% of the company’s stock.
In related news, SVP James Michael Phillips sold 7,231 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $7.17, for a total value of $51,846.27. Following the transaction, the senior vice president now owns 223,156 shares in the company, valued at $1,600,028.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan K. Barnes sold 11,987 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $7.16, for a total value of $85,826.92. Following the completion of the transaction, the chief financial officer now owns 729,407 shares in the company, valued at approximately $5,222,554.12. The disclosure for this sale can be found here. Insiders sold 39,486 shares of company stock worth $283,261 in the last 90 days. 13.40% of the stock is owned by company insiders.
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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