Morgan Stanley Acquires 435,774 Shares of Pacific Biosciences of California, Inc. (PACB)

Morgan Stanley raised its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 129.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 773,519 shares of the biotechnology company’s stock after buying an additional 435,774 shares during the period. Morgan Stanley owned approximately 0.83% of Pacific Biosciences of California worth $3,998,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PACB. State Street Corp increased its stake in shares of Pacific Biosciences of California by 5.2% in the fourth quarter. State Street Corp now owns 1,386,134 shares of the biotechnology company’s stock valued at $5,270,000 after buying an additional 68,226 shares during the period. Teachers Advisors LLC increased its stake in shares of Pacific Biosciences of California by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 826,565 shares of the biotechnology company’s stock valued at $3,141,000 after buying an additional 8,774 shares during the period. Bank of Montreal Can increased its stake in shares of 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 valued at $214,000 after buying an additional 35,463 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Pacific Biosciences of California during the first quarter valued at about $368,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of Pacific Biosciences of California by 101.5% in the first quarter. Essex Investment Management Co. LLC now owns 150,518 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 75,837 shares during the period. 54.62% of the stock is currently owned by institutional investors.

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) traded up 1.047% during trading on Monday, reaching $4.345. 81,143 shares of the company traded hands. Pacific Biosciences of California, Inc. has a 12 month low of $3.08 and a 12 month high of $9.50. The firm’s market capitalization is $502.24 million. The firm has a 50-day moving average price of $3.56 and a 200-day moving average price of $4.25.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.02. The business had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. Pacific Biosciences of California’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. Equities research analysts anticipate that Pacific Biosciences of California, Inc. will post ($0.90) EPS for the current year.

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Several analysts have issued reports on PACB shares. Cantor Fitzgerald set a $8.00 price target on shares of Pacific Biosciences of California and gave the company a “buy” rating in a report on Thursday, April 27th. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. Finally, BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.00.

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.

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

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