Pictet Asset Management Ltd. grew its stake in Pacific Biosciences of California (NASDAQ:PACB) by 4,581.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,483,872 shares of the biotechnology company’s stock after purchasing an additional 1,452,172 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.97% of Pacific Biosciences of California worth $7,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Pacific Biosciences of California by 5.0% in the 2nd quarter. BlackRock Inc. now owns 11,698,356 shares of the biotechnology company’s stock worth $70,776,000 after buying an additional 559,753 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pacific Biosciences of California by 0.7% in the second quarter. Vanguard Group Inc. now owns 7,666,529 shares of the biotechnology company’s stock valued at $46,382,000 after acquiring an additional 55,322 shares in the last quarter. ARP Americas LP boosted its stake in shares of Pacific Biosciences of California by 22.6% in the third quarter. ARP Americas LP now owns 5,372,620 shares of the biotechnology company’s stock worth $27,723,000 after acquiring an additional 989,998 shares during the last quarter. Water Island Capital LLC increased its position in shares of Pacific Biosciences of California by 7.0% during the second quarter. Water Island Capital LLC now owns 3,878,336 shares of the biotechnology company’s stock worth $23,464,000 after purchasing an additional 254,659 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pacific Biosciences of California by 2.5% during the third quarter. State Street Corp now owns 2,982,010 shares of the biotechnology company’s stock worth $15,387,000 after purchasing an additional 72,788 shares in the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 29th. Piper Jaffray Companies upgraded shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a research report on Tuesday, October 15th. Finally, ValuEngine raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Pacific Biosciences of California has a consensus rating of “Hold” and an average price target of $8.00.

Shares of PACB opened at $5.12 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.84. Pacific Biosciences of California has a 12-month low of $4.37 and a 12-month high of $7.74. The firm has a 50-day moving average price of $4.98 and a 200 day moving average price of $5.65. The firm has a market capitalization of $783.16 million, a P/E ratio of -6.74 and a beta of 1.69.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.04). Pacific Biosciences of California had a negative return on equity of 136.85% and a negative net margin of 139.22%. The firm had revenue of $21.92 million for the quarter, compared to analysts’ expectations of $28.02 million. Equities research analysts predict that Pacific Biosciences of California will post -0.71 earnings per share 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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