SG Americas Securities LLC Raises Stake in Pacific Biosciences of California, Inc. (PACB)

SG Americas Securities LLC grew its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 36.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,129 shares of the biotechnology company’s stock after acquiring an additional 32,446 shares during the period. SG Americas Securities LLC owned about 0.13% of Pacific Biosciences of California worth $435,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PACB. Karp Capital Management Corp purchased a new stake in Pacific Biosciences of California during the 1st quarter worth $116,000. Teza Capital Management LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter worth $153,000. Bank of Montreal Can increased its stake in Pacific Biosciences of California by 601.5% during the 1st 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 period. American International Group Inc. increased its stake in Pacific Biosciences of California by 7.4% during the 1st quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock worth $243,000 after buying an additional 3,258 shares during the period. Finally, Bank of America Corp DE increased its stake in Pacific Biosciences of California by 225.6% during the 1st quarter. Bank of America Corp DE now owns 50,262 shares of the biotechnology company’s stock worth $260,000 after buying an additional 34,824 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) opened at 5.44 on Wednesday. Pacific Biosciences of California, Inc. has a 1-year low of $3.08 and a 1-year high of $9.50. The company’s 50-day moving average is $4.24 and its 200 day moving average is $4.20. The stock’s market cap is $628.82 million.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.02). Pacific Biosciences of California had a negative return on equity of 93.31% and a negative net margin of 89.67%. The firm had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Pacific Biosciences of California’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Pacific Biosciences of California, Inc. will post ($0.89) EPS for the current year.

Several research firms recently issued reports on PACB. BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $10.00.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright laws. The correct version of this piece can be read at https://sportsperspectives.com/2017/09/13/sg-americas-securities-llc-raises-stake-in-pacific-biosciences-of-california-inc-pacb.html.

Pacific Biosciences of California 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.

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

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

Latest News

Leave a Reply