PEAK6 LLC Invests $933,000 in Pacific Biosciences of California, Inc. $PACB

PEAK6 LLC bought a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 555,552 shares of the biotechnology company’s stock, valued at approximately $933,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ARK Investment Management LLC lifted its position in shares of Pacific Biosciences of California by 20.5% during the 4th quarter. ARK Investment Management LLC now owns 37,264,228 shares of the biotechnology company’s stock valued at $69,684,000 after acquiring an additional 6,340,125 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Pacific Biosciences of California in the 2nd quarter worth $54,330,000. Vanguard Group Inc. raised its position in shares of Pacific Biosciences of California by 2.3% during the third quarter. Vanguard Group Inc. now owns 16,379,972 shares of the biotechnology company’s stock worth $20,966,000 after purchasing an additional 362,797 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Pacific Biosciences of California by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 7,078,744 shares of the biotechnology company’s stock valued at $13,241,000 after purchasing an additional 172,089 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Pacific Biosciences of California by 500.9% in the 3rd quarter. Millennium Management LLC now owns 4,916,795 shares of the biotechnology company’s stock valued at $6,293,000 after purchasing an additional 4,098,555 shares during the period.

Pacific Biosciences of California Price Performance

NASDAQ PACB opened at $1.35 on Monday. The firm has a market capitalization of $419.62 million, a price-to-earnings ratio of -3.14 and a beta of 2.31. The company has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $1.46. Pacific Biosciences of California, Inc. has a 52-week low of $1.07 and a 52-week high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Monday, August 3rd. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $39.01 million for the quarter, compared to analysts’ expectations of $42.90 million. Pacific Biosciences of California had a negative net margin of 82.49% and a negative return on equity of 5,752.12%. On average, analysts predict that Pacific Biosciences of California, Inc. will post -0.52 EPS for the current year.

Insider Activity

In other news, insider Oene Mark Van sold 26,911 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1.13, for a total transaction of $30,409.43. Following the transaction, the insider directly owned 2,705,853 shares in the company, valued at $3,057,613.89. The trade was a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PACB shares. Wall Street Zen cut Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Barclays boosted their price target on shares of Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Pacific Biosciences of California from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $1.83.

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.