Kennedy Capital Management Inc. grew its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 52.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,240,391 shares of the biotechnology company’s stock after acquiring an additional 426,269 shares during the period. Kennedy Capital Management Inc. owned 1.27% of Pacific Biosciences of California worth $4,416,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PACB. Raging Capital Management LLC bought a new position in shares of Pacific Biosciences of California in the first quarter valued at approximately $25,549,000. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Pacific Biosciences of California by 204.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,618,977 shares of the biotechnology company’s stock valued at $18,710,000 after acquiring an additional 2,429,528 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Pacific Biosciences of California in the second quarter valued at approximately $5,363,000. Point72 Asset Management L.P. bought a new position in shares of Pacific Biosciences of California in the first quarter valued at approximately $6,613,000. Finally, Morgan Stanley raised its stake in shares of Pacific Biosciences of California by 129.0% in the first quarter. Morgan Stanley now owns 773,519 shares of the biotechnology company’s stock valued at $3,998,000 after acquiring an additional 435,774 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

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Shares of Pacific Biosciences of California, Inc. (NASDAQ PACB) opened at 5.37 on Friday. Pacific Biosciences of California, Inc. has a one year low of $3.08 and a one year high of $9.50. The firm’s market cap is $620.72 million. The company has a 50 day moving average of $4.49 and a 200-day moving average of $4.22.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $20.07 million for the quarter, compared to the consensus estimate of $23.34 million. During the same period last year, the company posted ($0.21) EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Pacific Biosciences of California, Inc. will post ($0.89) EPS for the current year.

A number of research analysts have recently issued reports on PACB shares. ValuEngine cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. BidaskClub upgraded shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research cut shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus price target of $10.00.

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)

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