Alliancebernstein L.P. increased its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 45.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,200 shares of the biotechnology company’s stock after purchasing an additional 35,700 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of Pacific Biosciences of California worth $407,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Karp Capital Management Corp bought a new stake in shares of Pacific Biosciences of California in the first quarter worth $116,000. American International Group Inc. grew its stake in shares of Pacific Biosciences of California by 7.4% in the first 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 during the last quarter. Bank of America Corp DE grew its stake in shares of Pacific Biosciences of California by 225.6% in the first quarter. Bank of America Corp DE now owns 50,262 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 34,824 shares during the last quarter. D.C. Capital Advisors Ltd bought a new stake in shares of Pacific Biosciences of California in the second quarter worth $356,000. Finally, Rhumbline Advisers grew its stake in shares of Pacific Biosciences of California by 2.6% in the second quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 2,650 shares during the last quarter. 68.09% of the stock is currently owned by institutional investors.

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Shares of Pacific Biosciences of California, Inc. (PACB) opened at $2.88 on Tuesday. The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 0.10. Pacific Biosciences of California, Inc. has a 1 year low of $2.85 and a 1 year high of $8.32.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. The business had revenue of $23.54 million for the quarter, compared to analysts’ expectations of $28.29 million. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.89 earnings per share for the current year.

PACB has been the topic of several analyst reports. BidaskClub cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. 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. CL King cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective on the stock. in a research note on Thursday, September 28th. Finally, First Analysis cut shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $6.27.

Pacific Biosciences of California Profile

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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