Capital World Investors Increases Stake in Pacific Biosciences of California, Inc. (PACB)

Capital World Investors raised its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 532.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,840,000 shares of the biotechnology company’s stock after acquiring an additional 6,600,000 shares during the period. Capital World Investors owned approximately 6.78% of Pacific Biosciences of California worth $27,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Karp Capital Management Corp bought a new position in shares of Pacific Biosciences of California in the 1st quarter worth approximately $116,000. HighTower Advisors LLC raised its stake in Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 7,225 shares during the period. Voya Investment Management LLC raised its stake in Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 6,218 shares during the period. American International Group Inc. raised its stake in Pacific Biosciences of California by 7.4% during the 1st quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 3,258 shares during the period. Finally, Bank of America Corp DE raised its stake in Pacific Biosciences of California by 225.6% during the 1st quarter. Bank of America Corp DE now owns 50,262 shares of the biotechnology company’s stock worth $260,000 after acquiring an additional 34,824 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.02). Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. The firm had revenue of $20.07 million for the quarter, compared to analyst estimates of $23.34 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year.

A number of brokerages have issued reports on PACB. Zacks Investment Research lowered shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, CL King lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $8.93.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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