Algert Global LLC Has $501,000 Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Algert Global LLC boosted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,557 shares of the biotechnology company’s stock after buying an additional 22,361 shares during the quarter. Algert Global LLC’s holdings in Pacific Biosciences of California were worth $501,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PACB. Barclays PLC grew its position in shares of Pacific Biosciences of California by 143.0% in the third quarter. Barclays PLC now owns 595,150 shares of the biotechnology company’s stock valued at $1,011,000 after purchasing an additional 350,196 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Pacific Biosciences of California by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 564,507 shares of the biotechnology company’s stock valued at $960,000 after purchasing an additional 45,957 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Pacific Biosciences of California by 21.5% in the fourth quarter. Nordea Investment Management AB now owns 517,185 shares of the biotechnology company’s stock valued at $915,000 after purchasing an additional 91,559 shares during the last quarter. Green Alpha Advisors LLC grew its position in shares of Pacific Biosciences of California by 59.5% in the fourth quarter. Green Alpha Advisors LLC now owns 102,421 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 38,208 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Pacific Biosciences of California in the fourth quarter valued at about $45,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Scotiabank lowered their price target on Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, March 25th. The Goldman Sachs Group lowered their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 target price on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of “Hold” and an average price target of $2.50.

Pacific Biosciences of California Stock Down 7.5%

NASDAQ PACB opened at $1.11 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The firm has a 50-day simple moving average of $1.23 and a 200 day simple moving average of $1.63. Pacific Biosciences of California, Inc. has a twelve month low of $1.06 and a twelve month high of $2.72. The stock has a market cap of $333.05 million, a PE ratio of -0.68 and a beta of 2.19.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $37.15 million during the quarter, compared to analysts’ expectations of $36.90 million. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter last year, the company earned ($0.26) earnings per share. On average, research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the firm’s 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 transaction, the insider now owns 187,592 shares in the company, valued at $352,672.96. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Pacific Biosciences of California Company 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.