Birchview Capital LP Acquires Shares of 400,000 Pacific Biosciences of California, Inc. $PACB

Birchview Capital LP bought a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 400,000 shares of the biotechnology company’s stock, valued at approximately $496,000.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Pacific Biosciences of California by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company’s stock worth $19,191,000 after purchasing an additional 1,036,606 shares during the period. Invesco Ltd. lifted its holdings in shares of Pacific Biosciences of California by 100.6% in the first quarter. Invesco Ltd. now owns 524,643 shares of the biotechnology company’s stock valued at $619,000 after purchasing an additional 263,067 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Pacific Biosciences of California in the first quarter worth $319,000. Jump Financial LLC purchased a new position in shares of Pacific Biosciences of California during the first quarter valued at $25,000. Finally, Edmond DE Rothschild Holding S.A. raised its position in Pacific Biosciences of California by 2.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 21,855,180 shares of the biotechnology company’s stock valued at $25,789,000 after buying an additional 508,700 shares during the period.

Pacific Biosciences of California Price Performance

Shares of PACB opened at $2.12 on Friday. The company has a debt-to-equity ratio of 17.88, a quick ratio of 5.40 and a current ratio of 6.24. The firm has a market cap of $640.05 million, a PE ratio of -0.96 and a beta of 2.32. The firm’s 50 day moving average price is $1.97 and its 200 day moving average price is $1.54. Pacific Biosciences of California, Inc. has a twelve month low of $0.85 and a twelve month high of $2.72.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) EPS for the quarter. The business had revenue of $3.34 million for the quarter. Pacific Biosciences of California had a negative return on equity of 101.49% and a negative net margin of 325.02%. As a group, research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PACB shares. Piper Sandler lifted their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Stephens boosted their price objective on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.00.

About Pacific Biosciences of California

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.