Iguana Healthcare Management LLC Increases Stake in Pacific Biosciences of California, Inc. (PACB)

Iguana Healthcare Management LLC increased its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 43.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,000 shares of the biotechnology company’s stock after buying an additional 65,000 shares during the period. Iguana Healthcare Management LLC owned 0.23% of Pacific Biosciences of California worth $1,112,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Pacific Biosciences of California during the fourth quarter worth about $1,556,000. Alyeska Investment Group L.P. acquired a new stake in Pacific Biosciences of California during the fourth quarter worth about $1,878,000. Bank of Montreal Can raised its stake in Pacific Biosciences of California by 601.5% in the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after buying an additional 35,463 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Pacific Biosciences of California during the first quarter worth about $368,000. Finally, Arrowpoint Asset Management LLC raised its stake in Pacific Biosciences of California by 57.4% in the fourth quarter. Arrowpoint Asset Management LLC now owns 1,471,554 shares of the biotechnology company’s stock worth $5,592,000 after buying an additional 536,594 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

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

Pacific Biosciences of California, Inc. (NASDAQ PACB) traded up 2.48% during mid-day trading on Tuesday, hitting $3.31. The stock had a trading volume of 1,045,850 shares. The company’s market cap is $309.65 million. Pacific Biosciences of California, Inc. has a 1-year low of $3.11 and a 1-year high of $9.50. The company has a 50-day moving average price of $3.70 and a 200 day moving average price of $4.64.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Wednesday, April 26th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.03. Pacific Biosciences of California had a negative net margin of 81.75% and a negative return on equity of 87.51%. The firm had revenue of $24.90 million during the quarter, compared to analyst estimates of $23.80 million. During the same period last year, the firm earned ($0.23) EPS. Pacific Biosciences of California’s quarterly revenue was up 30.4% on a year-over-year basis. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post ($0.92) EPS for the current fiscal year.

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PACB has been the subject of a number of research analyst reports. Zacks Investment Research lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Thursday, March 23rd. ValuEngine lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 13th. Finally, Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the company a “buy” rating in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.25.

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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