Millennium Management LLC Increases Holdings in Pacific Biosciences of California (PACB)

Millennium Management LLC raised its stake in Pacific Biosciences of California (NASDAQ:PACB) by 727.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,666,088 shares of the biotechnology company’s stock after acquiring an additional 2,343,773 shares during the period. Millennium Management LLC’s holdings in Pacific Biosciences of California were worth $19,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudock Capital Group LLC bought a new stake in Pacific Biosciences of California in the 4th quarter valued at $29,000. Vanguard Group Inc increased its holdings in shares of Pacific Biosciences of California by 6.4% in the 3rd quarter. Vanguard Group Inc now owns 6,311,846 shares of the biotechnology company’s stock worth $34,148,000 after buying an additional 377,272 shares during the last quarter. Kassirer Asset Management Corp bought a new stake in shares of Pacific Biosciences of California in the 4th quarter worth about $1,354,000. MetLife Investment Advisors LLC increased its holdings in shares of Pacific Biosciences of California by 53.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 90,137 shares of the biotechnology company’s stock worth $488,000 after buying an additional 31,390 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Pacific Biosciences of California in the 4th quarter worth about $547,000. Institutional investors own 67.09% of the company’s stock.

A number of analysts have recently weighed in on PACB shares. BidaskClub upgraded shares of Pacific Biosciences of California from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 11th. Cowen downgraded shares of Pacific Biosciences of California from an “outperform” rating to a “market perform” rating in a report on Friday, January 4th. ValuEngine downgraded shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, Stephens downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $8.00 target price on the stock. in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.11.

In related news, CFO Susan K. Barnes sold 11,987 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $7.16, for a total transaction of $85,826.92. Following the transaction, the chief financial officer now directly owns 729,407 shares in the company, valued at approximately $5,222,554.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathy Ordonez sold 6,933 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $7.17, for a total transaction of $49,709.61. Following the transaction, the director now owns 63,700 shares in the company, valued at $456,729. The disclosure for this sale can be found here. Insiders have sold a total of 39,486 shares of company stock worth $283,261 over the last quarter. 13.40% of the stock is currently owned by insiders.

Pacific Biosciences of California stock opened at $7.31 on Tuesday. Pacific Biosciences of California has a twelve month low of $2.02 and a twelve month high of $7.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.23 and a current ratio of 4.90. The stock has a market capitalization of $1.09 billion, a PE ratio of -9.62 and a beta of 2.39.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Monday, February 11th. The biotechnology company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.08). The firm had revenue of $19.53 million for the quarter, compared to the consensus estimate of $21.08 million. Pacific Biosciences of California had a negative net margin of 130.44% and a negative return on equity of 94.50%. On average, equities analysts forecast that Pacific Biosciences of California will post -0.56 earnings per share 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 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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