Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. cut its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 198,450 shares of the biotechnology company’s stock after selling 4,500 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Pacific Biosciences of California were worth $706,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PACB. Raging Capital Management LLC bought a new position in shares of Pacific Biosciences of California during the first quarter worth $25,549,000. Gilder Gagnon Howe & Co. LLC increased its position in shares of Pacific Biosciences of California by 204.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,618,977 shares of the biotechnology company’s stock worth $18,710,000 after buying an additional 2,429,528 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Pacific Biosciences of California during the first quarter worth $6,613,000. Morgan Stanley increased its position in shares of Pacific Biosciences of California by 129.0% in the first quarter. Morgan Stanley now owns 773,519 shares of the biotechnology company’s stock worth $3,998,000 after buying an additional 435,774 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Pacific Biosciences of California by 13.2% in the first quarter. Vanguard Group Inc. now owns 3,646,084 shares of the biotechnology company’s stock worth $18,850,000 after buying an additional 424,632 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Pacific Biosciences of California, Inc. (NASDAQ:PACB) traded down 0.62% during midday trading on Friday, reaching $3.18. 1,578,854 shares of the company’s stock traded hands. The stock’s market cap is $297.49 million. Pacific Biosciences of California, Inc. has a one year low of $3.08 and a one year high of $9.50. The stock’s 50 day moving average price is $3.46 and its 200-day moving average price is $4.37.

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 consensus estimate of ($0.23) by $0.03. The business had revenue of $24.90 million during the quarter, compared to the consensus estimate of $23.80 million. Pacific Biosciences of California had a negative return on equity of 87.51% and a negative net margin of 81.75%. Pacific Biosciences of California’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Equities analysts predict that Pacific Biosciences of California, Inc. will post ($0.92) earnings per share for the current year.

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A number of equities analysts recently weighed in on PACB shares. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the stock a “buy” rating in a report on Thursday, April 27th. Finally, ValuEngine downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 13th.

About Pacific Biosciences of California

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

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