Pacific Biosciences of California (PACB) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC cut its position in Pacific Biosciences of California (NASDAQ:PACB) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429,505 shares of the biotechnology company’s stock after selling 23,198 shares during the period. Frontier Capital Management Co. LLC owned 1.08% of Pacific Biosciences of California worth $5,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Pacific Biosciences of California by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 932,575 shares of the biotechnology company’s stock worth $2,461,000 after buying an additional 57,374 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Pacific Biosciences of California during the fourth quarter worth $301,000. Deutsche Bank AG raised its holdings in Pacific Biosciences of California by 87.1% during the fourth quarter. Deutsche Bank AG now owns 428,979 shares of the biotechnology company’s stock worth $1,131,000 after buying an additional 199,717 shares during the last quarter. Two Sigma Investments LP acquired a new position in Pacific Biosciences of California during the fourth quarter worth $370,000. Finally, Teachers Advisors LLC raised its holdings in Pacific Biosciences of California by 2.2% during the fourth quarter. Teachers Advisors LLC now owns 1,029,585 shares of the biotechnology company’s stock worth $2,718,000 after buying an additional 21,835 shares during the last quarter. 71.08% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Biosciences of California opened at $4.40 on Monday, according to Marketbeat Ratings. Pacific Biosciences of California has a 1 year low of $2.02 and a 1 year high of $5.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.33 and a quick ratio of 3.60. The firm has a market capitalization of $580.54 million, a PE ratio of -5.06 and a beta of 1.57.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.17). The firm had revenue of $21.58 million during the quarter, compared to analyst estimates of $24.45 million. Pacific Biosciences of California had a negative net margin of 100.09% and a negative return on equity of 95.29%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) earnings per share. analysts forecast that Pacific Biosciences of California will post -0.66 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Pacific Biosciences of California in a report on Wednesday, August 8th. They set an “overweight” rating and a $5.00 price objective on the stock. Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Piper Jaffray Companies reiterated a “hold” rating and issued a $3.80 target price on shares of Pacific Biosciences of California in a research note on Friday, August 3rd. BidaskClub lowered shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, ValuEngine upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $4.77.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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

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