Pacific Biosciences of California, Inc. (PACB) Position Maintained by Blackstone Group L.P.

Blackstone Group L.P. maintained its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,411,556 shares of the biotechnology company’s stock at the end of the first quarter. Pacific Biosciences of California makes up approximately 0.1% of Blackstone Group L.P.’s portfolio, making the stock its 27th largest position. Blackstone Group L.P. owned 2.58% of Pacific Biosciences of California worth $12,468,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PACB. Biondo Investment Advisors LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth approximately $137,000. Athena Capital Advisors LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth approximately $114,000. Karp Capital Management Corp bought a new stake in shares of Pacific Biosciences of California during the first quarter worth approximately $116,000. Teza Capital Management LLC bought a new stake in shares of Pacific Biosciences of California during the first quarter worth approximately $153,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Pacific Biosciences of California by 44.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 30,231 shares of the biotechnology company’s stock worth $115,000 after buying an additional 9,240 shares during the period. 71.15% of the stock is owned by institutional investors.

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

Shares of 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 firm’s market capitalization 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 stock’s 50-day moving average is $3.70 and its 200-day moving average is $4.64.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Wednesday, April 26th. The biotechnology company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. The firm had revenue of $24.90 million for the quarter, compared to the consensus estimate of $23.80 million. Pacific Biosciences of California had a negative net margin of 81.75% and a negative return on equity of 87.51%. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities analysts expect that Pacific Biosciences of California, Inc. will post ($0.92) earnings per share for the current year.

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A number of analysts have recently commented on the company. Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Thursday, March 30th. ValuEngine cut Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. Finally, Cantor Fitzgerald set a $8.00 price target on Pacific Biosciences of California and gave the company a “buy” rating in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average 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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