Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stock Holdings Boosted by ARK Investment Management LLC

ARK Investment Management LLC lifted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 15.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,504,273 shares of the biotechnology company’s stock after acquiring an additional 4,681,833 shares during the period. Pacific Biosciences of California accounts for 2.0% of ARK Investment Management LLC’s portfolio, making the stock its 17th biggest holding. ARK Investment Management LLC owned about 0.13% of Pacific Biosciences of California worth $338,487,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Pacific Biosciences of California by 2,201.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,041,624 shares of the biotechnology company’s stock worth $29,838,000 after acquiring an additional 2,909,439 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Pacific Biosciences of California by 64.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,782 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 8,168 shares in the last quarter. Raymond James & Associates grew its position in Pacific Biosciences of California by 22.5% in the 4th quarter. Raymond James & Associates now owns 67,393 shares of the biotechnology company’s stock valued at $661,000 after buying an additional 12,373 shares in the last quarter. McGuire Investment Group LLC grew its position in Pacific Biosciences of California by 32.3% in the 4th quarter. McGuire Investment Group LLC now owns 35,484 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 8,664 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its position in Pacific Biosciences of California by 11.9% in the 4th quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock valued at $184,000 after buying an additional 1,991 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PACB. Guggenheim began coverage on shares of Pacific Biosciences of California in a research report on Thursday, December 14th. They issued a “neutral” rating for the company. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Wednesday, March 20th. Wolfe Research started coverage on shares of Pacific Biosciences of California in a report on Wednesday, December 13th. They issued a “peer perform” rating for the company. Stephens assumed coverage on shares of Pacific Biosciences of California in a report on Thursday, December 14th. They issued an “overweight” rating and a $11.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.90.

Pacific Biosciences of California Price Performance

Shares of Pacific Biosciences of California stock opened at $3.72 on Thursday. Pacific Biosciences of California, Inc. has a 1-year low of $3.45 and a 1-year high of $14.55. The firm has a fifty day simple moving average of $5.45 and a 200-day simple moving average of $7.36. The company has a debt-to-equity ratio of 1.27, a quick ratio of 7.21 and a current ratio of 7.81.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. Pacific Biosciences of California had a negative net margin of 152.97% and a negative return on equity of 40.23%. The business had revenue of $58.36 million for the quarter, compared to analyst estimates of $57.96 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. Pacific Biosciences of California’s revenue was up 113.3% compared to the same quarter last year. As a group, research analysts expect that Pacific Biosciences of California, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David W. Meline bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $4.40 per share, with a total value of $176,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $176,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pacific Biosciences of California news, Director David W. Meline purchased 40,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $4.40 per share, with a total value of $176,000.00. Following the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $176,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the completion of the sale, the insider now directly owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,371 shares of company stock valued at $459,806. 1.90% of the stock is owned by company insiders.

Pacific Biosciences of California Profile

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.