IFP Advisors Inc Purchases 38,984 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

IFP Advisors Inc lifted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,585 shares of the biotechnology company’s stock after purchasing an additional 38,984 shares during the quarter. IFP Advisors Inc owned 0.07% of Pacific Biosciences of California worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Soros Fund Management LLC raised its holdings in shares of Pacific Biosciences of California by 23.6% during the third quarter. Soros Fund Management LLC now owns 2,098,000 shares of the biotechnology company’s stock worth $3,567,000 after acquiring an additional 400,000 shares during the period. FMR LLC raised its holdings in shares of Pacific Biosciences of California by 641.3% during the third quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after acquiring an additional 353,092 shares during the period. Barclays PLC raised its holdings in shares of Pacific Biosciences of California by 143.0% during the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock worth $1,011,000 after acquiring an additional 350,196 shares during the period. State Street Corp raised its holdings in shares of Pacific Biosciences of California by 5.7% during the third quarter. State Street Corp now owns 6,276,156 shares of the biotechnology company’s stock worth $10,669,000 after acquiring an additional 340,766 shares during the period. Finally, Senvest Management LLC raised its holdings in shares of Pacific Biosciences of California by 36.1% during the third quarter. Senvest Management LLC now owns 1,093,954 shares of the biotechnology company’s stock worth $1,860,000 after acquiring an additional 290,000 shares during the period.

Wall Street Analysts Forecast Growth

PACB has been the topic of a number of research analyst reports. Scotiabank dropped their price objective on shares of Pacific Biosciences of California from $7.00 to $6.00 and set a “sector outperform” rating on the stock in a report on Monday, November 11th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Piper Sandler restated a “neutral” rating and set a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, The Goldman Sachs Group lowered their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.79.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.45 on Friday. The firm has a 50-day moving average of $1.72 and a 200-day moving average of $1.79. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year high of $5.23. The company has a market cap of $397.10 million, a PE ratio of -0.88 and a beta of 1.92. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The company had revenue of $39.22 million during the quarter, compared to the consensus estimate of $39.20 million. During the same quarter last year, the firm posted ($0.27) EPS. As a group, equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Insider Activity

In related news, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company’s stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total transaction of $69,842.15. Following the sale, the insider now directly owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

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.