AtonRa Partners Decreases Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

AtonRa Partners lessened its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,722 shares of the biotechnology company’s stock after selling 6,360 shares during the period. Pacific Biosciences of California accounts for 1.1% of AtonRa Partners’ investment portfolio, making the stock its 26th largest position. AtonRa Partners’ holdings in Pacific Biosciences of California were worth $576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Pacific Biosciences of California in the third quarter valued at approximately $59,000. Private Wealth Partners LLC purchased a new stake in Pacific Biosciences of California during the 4th quarter worth about $98,000. Raymond James Financial Services Advisors Inc. bought a new position in Pacific Biosciences of California in the 3rd quarter worth about $105,000. EMC Capital Management grew its holdings in Pacific Biosciences of California by 191.6% during the 3rd quarter. EMC Capital Management now owns 15,600 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 10,251 shares in the last quarter. Finally, Ascension Capital Advisors Inc. bought a new stake in shares of Pacific Biosciences of California during the third quarter valued at about $132,000.

Pacific Biosciences of California Price Performance

PACB traded up $0.13 during midday trading on Monday, hitting $1.60. The stock had a trading volume of 8,926,629 shares, compared to its average volume of 9,814,427. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81. The business has a fifty day moving average of $3.58 and a 200 day moving average of $6.29. The company has a market cap of $428.72 million, a P/E ratio of -1.32 and a beta of 1.83.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. The company had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $57.96 million. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The firm’s revenue was up 113.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. As a group, equities analysts forecast that Pacific Biosciences of California, Inc. will post -1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PACB. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research report on Monday, April 22nd. TD Cowen decreased their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a report on Wednesday, April 17th. UBS Group dropped their price objective on Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Scotiabank decreased their target price on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and a consensus target price of $7.77.

Insider Buying and Selling

In related news, Director David W. Meline acquired 40,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $176,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director David W. Meline acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $176,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.96, for a total value of $200,017.60. Following the transaction, the insider now owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $218,843 in the last ninety days. 1.40% of the stock is owned by insiders.

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.