Public Employees Retirement System of Ohio Has $1.56 Million Position in Pacific Biosciences of California (NASDAQ:PACB)

Public Employees Retirement System of Ohio lowered its holdings in Pacific Biosciences of California (NASDAQ:PACB) by 30.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 258,000 shares of the biotechnology company’s stock after selling 114,000 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Pacific Biosciences of California were worth $1,561,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC boosted its position in 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 purchasing an additional 7,600 shares during the last quarter. Bank of Montreal Can boosted its position in Pacific Biosciences of California by 291.6% during the second quarter. Bank of Montreal Can now owns 15,883 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 11,827 shares during the last quarter. Weiss Asset Management LP acquired a new position in Pacific Biosciences of California during the first quarter valued at approximately $104,000. Boston Private Wealth LLC acquired a new position in Pacific Biosciences of California during the second quarter valued at approximately $115,000. Finally, New Jersey Better Educational Savings Trust acquired a new position in Pacific Biosciences of California during the second quarter valued at approximately $127,000. 69.69% of the stock is currently owned by institutional investors.

PACB has been the subject of several recent research reports. ValuEngine cut Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the company a “hold” rating in a research report on Thursday, June 20th. Finally, BidaskClub cut Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Pacific Biosciences of California currently has an average rating of “Hold” and a consensus price target of $7.50.

Shares of PACB traded up $0.12 during mid-day trading on Thursday, reaching $5.59. The company’s stock had a trading volume of 16,032 shares, compared to its average volume of 1,164,502. Pacific Biosciences of California has a 1-year low of $3.90 and a 1-year high of $7.84. The stock has a market cap of $844.36 million, a P/E ratio of -7.36 and a beta of 1.83. The business has a 50-day simple moving average of $5.59 and a two-hundred day simple moving average of $6.51. The company has a current ratio of 2.00, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.

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