Pacific Biosciences of California, Inc. $PACB Stock Holdings Increased by UBS Group AG

UBS Group AG boosted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 111.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,171,546 shares of the biotechnology company’s stock after purchasing an additional 1,674,320 shares during the period. UBS Group AG’s holdings in Pacific Biosciences of California were worth $5,931,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Zacks Investment Management acquired a new position in Pacific Biosciences of California in the third quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Pacific Biosciences of California by 891.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 20,478 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Pacific Biosciences of California during the 3rd quarter worth $29,000. Private Wealth Partners LLC acquired a new position in shares of Pacific Biosciences of California in the 4th quarter worth $47,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Pacific Biosciences of California in the 3rd quarter worth $38,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on PACB shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Tuesday, April 21st. Barclays lifted their price target on Pacific Biosciences of California from $1.00 to $1.50 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Finally, Zacks Research downgraded Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Reduce” and an average price target of $1.83.

Pacific Biosciences of California Stock Performance

NASDAQ PACB opened at $1.19 on Thursday. Pacific Biosciences of California, Inc. has a twelve month low of $0.85 and a twelve month high of $2.73. The stock has a market cap of $369.62 million, a price-to-earnings ratio of -2.77 and a beta of 2.40. The firm’s 50 day moving average price is $1.42 and its two-hundred day moving average price is $1.79.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $37.18 million during the quarter, compared to analyst estimates of $39.94 million. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%. On average, research analysts forecast that Pacific Biosciences of California, Inc. will post -0.5 EPS for the current fiscal year.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.