Parametric Portfolio Associates LLC Sells 37,413 Shares of Pacific Biosciences of California (PACB)

Parametric Portfolio Associates LLC decreased its position in Pacific Biosciences of California (NASDAQ:PACB) by 20.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,342 shares of the biotechnology company’s stock after selling 37,413 shares during the quarter. Parametric Portfolio Associates LLC owned 0.15% of Pacific Biosciences of California worth $525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Pacific Biosciences of California by 225.6% in the 1st quarter. Bank of America Corp DE now owns 50,262 shares of the biotechnology company’s stock valued at $260,000 after purchasing an additional 34,824 shares during the period. D.C. Capital Advisors Ltd acquired a new stake in shares of Pacific Biosciences of California in the 2nd quarter valued at about $356,000. Rhumbline Advisers raised its stake in shares of Pacific Biosciences of California by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock valued at $372,000 after purchasing an additional 2,650 shares during the period. Alliancebernstein L.P. raised its stake in shares of Pacific Biosciences of California by 45.5% in the 2nd quarter. Alliancebernstein L.P. now owns 114,200 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 35,700 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Pacific Biosciences of California by 36.2% in the 2nd quarter. SG Americas Securities LLC now owns 122,129 shares of the biotechnology company’s stock valued at $435,000 after purchasing an additional 32,446 shares during the period. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

PACB has been the topic of several recent research reports. BidaskClub raised 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 Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. CL King cut Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a report on Thursday, September 28th. Finally, First Analysis cut Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $6.27.

Pacific Biosciences of California (NASDAQ PACB) opened at $3.01 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.15 and a current ratio of 3.75. Pacific Biosciences of California has a 1-year low of $2.66 and a 1-year high of $7.99.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The company had revenue of $23.54 million during the quarter, compared to analysts’ expectations of $28.29 million. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. Pacific Biosciences of California’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.19) EPS. equities research analysts anticipate that Pacific Biosciences of California will post -0.88 EPS for the current fiscal year.

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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.

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

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