NJ State Employees Deferred Compensation Plan Buys 20,000 Shares of Pacific Biosciences of California (NASDAQ:PACB)

NJ State Employees Deferred Compensation Plan increased its stake in Pacific Biosciences of California (NASDAQ:PACB) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the biotechnology company’s stock after buying an additional 20,000 shares during the quarter. NJ State Employees Deferred Compensation Plan owned about 0.07% of Pacific Biosciences of California worth $605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Services Automobile Association lifted its position in shares of Pacific Biosciences of California by 27.2% during the fourth quarter. United Services Automobile Association now owns 21,655 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 4,634 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Pacific Biosciences of California by 3.1% during the first quarter. Rhumbline Advisers now owns 180,392 shares of the biotechnology company’s stock worth $1,304,000 after purchasing an additional 5,364 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Pacific Biosciences of California by 79.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 16,324 shares of the biotechnology company’s stock worth $116,000 after purchasing an additional 7,237 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth $53,000. Finally, FNY Investment Advisers LLC lifted its position in shares of Pacific Biosciences of California by 211.1% during the second quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after purchasing an additional 7,600 shares during the last quarter. Institutional investors own 71.77% of the company’s stock.

Shares of NASDAQ:PACB traded up $0.05 on Friday, hitting $5.43. 1,252,531 shares of the company’s stock were exchanged, compared to its average volume of 1,814,140. Pacific Biosciences of California has a 12 month low of $3.33 and a 12 month high of $7.84. The company has a market capitalization of $821.39 million, a PE ratio of -7.14 and a beta of 1.93. The stock’s 50 day simple moving average is $5.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 2.06.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Friday, May 3rd. The biotechnology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $16.43 million during the quarter, compared to the consensus estimate of $21.83 million. Pacific Biosciences of California had a negative net margin of 143.62% and a negative return on equity of 102.01%. On average, research analysts anticipate that Pacific Biosciences of California will post -0.65 earnings per share for the current fiscal year.

Several research firms have recently weighed in on PACB. ValuEngine downgraded Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. BidaskClub upgraded Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the stock a “hold” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

About Pacific Biosciences of California

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

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