Pacific Biosciences of California, Inc. (NASDAQ:PACB) Position Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 162.9% during the first quarter, Holdings Channel reports. The firm owned 588,491 shares of the biotechnology company’s stock after acquiring an additional 364,640 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pacific Biosciences of California were worth $19,602,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Pacific Biosciences of California during the first quarter worth $29,000. Front Row Advisors LLC acquired a new stake in shares of Pacific Biosciences of California during the first quarter worth $33,000. Penserra Capital Management LLC raised its holdings in shares of Pacific Biosciences of California by 184.4% during the fourth quarter. Penserra Capital Management LLC now owns 4,295 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 2,785 shares during the period. Hershey Trust Co. acquired a new stake in shares of Pacific Biosciences of California during the first quarter worth $175,000. Finally, Comerica Bank acquired a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $218,000. 82.68% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on the stock. TheStreet cut shares of Pacific Biosciences of California from a “c” rating to a “d+” rating in a report on Tuesday, May 4th. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating and set a $32.00 price objective on the stock in a report on Tuesday, April 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Pacific Biosciences of California presently has an average rating of “Buy” and an average target price of $41.20.

PACB stock opened at $32.48 on Friday. The company has a debt-to-equity ratio of 3.19, a quick ratio of 34.97 and a current ratio of 35.45. Pacific Biosciences of California, Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $53.69. The business has a 50-day moving average price of $27.76. The firm has a market cap of $6.44 billion, a PE ratio of -87.78 and a beta of 1.13.

Pacific Biosciences of California (NASDAQ:PACB) last released its earnings results on Thursday, April 29th. The biotechnology company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.27. The firm had revenue of $29.00 million for the quarter, compared to analysts’ expectations of $25.66 million. Pacific Biosciences of California had a negative net margin of 64.25% and a negative return on equity of 43.06%. On average, analysts expect that Pacific Biosciences of California, Inc. will post -0.77 earnings per share for the current fiscal year.

In other Pacific Biosciences of California news, Director William W. Ericson sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $25.89, for a total transaction of $970,875.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at approximately $323,625. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by company insiders.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

See Also: Penny Stocks, Risk and Reward Factors

Want to see what other hedge funds are holding PACB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Biosciences of California, Inc. (NASDAQ:PACB).

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

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with MarketBeat.com's FREE daily email newsletter.