Two Sigma Investments LP bought a new stake in shares of Pacific Biosciences (NASDAQ:PACB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 140,298 shares of the biotechnology company’s stock, valued at approximately $370,000.
Other institutional investors also recently made changes to their positions in the company. Moloney Securities Asset Management LLC bought a new stake in Pacific Biosciences during the fourth quarter valued at approximately $154,000. Renaissance Technologies LLC bought a new stake in Pacific Biosciences during the fourth quarter valued at approximately $301,000. ING Groep NV bought a new stake in Pacific Biosciences during the fourth quarter valued at approximately $549,000. ARK Investment Management LLC lifted its position in Pacific Biosciences by 516.0% during the fourth quarter. ARK Investment Management LLC now owns 213,917 shares of the biotechnology company’s stock valued at $565,000 after purchasing an additional 179,192 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in Pacific Biosciences during the fourth quarter valued at approximately $704,000. Institutional investors and hedge funds own 58.93% of the company’s stock.
Several brokerages have issued reports on PACB. BidaskClub upgraded shares of Pacific Biosciences from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 21st. Zacks Investment Research lowered shares of Pacific Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Pacific Biosciences presently has a consensus rating of “Hold” and a consensus target price of $5.39.
Shares of Pacific Biosciences stock opened at $2.59 on Tuesday. Pacific Biosciences has a 1 year low of $2.02 and a 1 year high of $5.70. The company has a market cap of $332.32, a price-to-earnings ratio of -2.98 and a beta of 1.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.55 and a quick ratio of 2.74.
Pacific Biosciences (NASDAQ:PACB) last announced its earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.02. Pacific Biosciences had a negative net margin of 98.63% and a negative return on equity of 98.98%. The business had revenue of $24.94 million during the quarter, compared to analyst estimates of $21.89 million. During the same period in the previous year, the business posted ($0.21) earnings per share. Pacific Biosciences’s revenue for the quarter was down 3.1% on a year-over-year basis. equities research analysts predict that Pacific Biosciences will post -0.63 earnings per share for the current fiscal year.
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Pacific Biosciences Profile
Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.
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