Panagora Asset Management Inc. lessened its holdings in shares of Pacific Biosciences of California (NASDAQ:PACB) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,210 shares of the biotechnology company’s stock after selling 3,590 shares during the period. Panagora Asset Management Inc. owned 0.14% of Pacific Biosciences of California worth $1,272,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Quantamental Technologies LLC bought a new stake in shares of Pacific Biosciences of California in the 1st quarter worth approximately $53,000. FNY Investment Advisers LLC grew its holdings in shares of Pacific Biosciences of California by 211.1% during the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 7,600 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of Pacific Biosciences of California during the first quarter valued at approximately $104,000. Boston Private Wealth LLC bought a new stake in shares of Pacific Biosciences of California in the 2nd quarter worth $115,000. Finally, New Jersey Better Educational Savings Trust purchased a new stake in shares of Pacific Biosciences of California during the second quarter valued at $127,000. Institutional investors own 69.71% of the company’s stock.

PACB has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. BidaskClub downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the stock a “hold” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Pacific Biosciences of California presently has an average rating of “Hold” and an average price target of $7.50.

Shares of PACB traded down $0.02 during trading hours on Wednesday, hitting $5.47. The stock had a trading volume of 24,503 shares, compared to its average volume of 1,128,610. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.00 and a quick ratio of 1.65. Pacific Biosciences of California has a 12 month low of $3.90 and a 12 month high of $7.84. The firm has a market capitalization of $853.52 million, a PE ratio of -7.18 and a beta of 1.83. The stock has a fifty day moving average price of $5.55 and a 200 day moving average price of $6.57.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). The firm had revenue of $24.62 million for the quarter, compared to analysts’ expectations of $22.27 million. Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. As a group, analysts anticipate that Pacific Biosciences of California will post -0.64 EPS for the current fiscal year.

Pacific Biosciences of California Profile

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

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