Pacific Biosciences of California (NASDAQ:PACB) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 11,726,630 shares, a decline of 10.8% from the February 15th total of 13,148,601 shares. Based on an average daily volume of 663,252 shares, the short-interest ratio is presently 17.7 days. Approximately 17.2% of the shares of the stock are short sold.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its stake in Pacific Biosciences of California by 17.5% during the second quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 6,218 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Pacific Biosciences of California by 105.5% in the third quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after buying an additional 21,766 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of Pacific Biosciences of California in the fourth quarter worth about $154,000. The Manufacturers Life Insurance Company increased its holdings in shares of Pacific Biosciences of California by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock worth $250,000 after buying an additional 5,145 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Pacific Biosciences of California in the fourth quarter worth about $301,000. 60.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Pacific Biosciences of California (PACB) opened at $2.79 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.74 and a current ratio of 3.55. Pacific Biosciences of California has a 52 week low of $2.21 and a 52 week high of $5.70. The stock has a market capitalization of $363.33, a PE ratio of -3.13 and a beta of 1.54.
Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.02. Pacific Biosciences of California had a negative return on equity of 98.98% and a negative net margin of 98.63%. The firm had revenue of $24.94 million during the quarter, compared to analyst estimates of $21.89 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. sell-side analysts forecast that Pacific Biosciences of California will post -0.67 EPS for the current year.
Several brokerages have issued reports on PACB. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BidaskClub raised Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 21st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Pacific Biosciences of California currently has an average rating of “Hold” and an average price target of $6.27.
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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.
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