Pacific Biosciences of California, Inc. $PACB Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. decreased its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 38.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,366,200 shares of the biotechnology company's stock after selling 8,488,980 shares during the quarter. Edmond DE Rothschild Holding S.A. owned approximately 4.45% of Pacific Biosciences of California worth $16,574,000 as of its most recent filing with the SEC.

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Several other institutional investors and hedge funds have also made changes to their positions in PACB. Prudential Financial Inc. boosted its position in shares of Pacific Biosciences of California by 73.0% in the 2nd quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company's stock valued at $44,000 after purchasing an additional 15,062 shares during the period. Cetera Investment Advisers lifted its stake in Pacific Biosciences of California by 10.1% in the second quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company's stock valued at $130,000 after buying an additional 9,617 shares during the last quarter. Creative Planning lifted its stake in Pacific Biosciences of California by 245.9% in the second quarter. Creative Planning now owns 175,690 shares of the biotechnology company's stock valued at $218,000 after buying an additional 124,893 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pacific Biosciences of California by 6.4% in the second quarter. Geode Capital Management LLC now owns 6,718,879 shares of the biotechnology company's stock valued at $8,333,000 after acquiring an additional 401,637 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Pacific Biosciences of California by 89.9% during the second quarter. Vestmark Advisory Solutions Inc. now owns 1,294,186 shares of the biotechnology company's stock worth $1,605,000 after acquiring an additional 612,760 shares during the last quarter.

Pacific Biosciences of California Trading Up 12.6%

Shares of Pacific Biosciences of California stock opened at $2.50 on Tuesday. The firm has a market cap of $754.77 million, a price-to-earnings ratio of -1.09 and a beta of 2.30. Pacific Biosciences of California, Inc. has a 52-week low of $0.85 and a 52-week high of $2.53. The company's 50-day simple moving average is $1.67 and its 200-day simple moving average is $1.42. The company has a quick ratio of 6.02, a current ratio of 6.92 and a debt-to-equity ratio of 10.51.

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Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) EPS for the quarter. The firm had revenue of $3.34 million during the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. As a group, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PACB has been the subject of several research reports. Piper Sandler upped their price target on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a "neutral" rating in a research report on Tuesday, November 11th. Wall Street Zen raised shares of Pacific Biosciences of California from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Finally, Stephens raised their price target on Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an "overweight" rating in a report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pacific Biosciences of California has an average rating of "Hold" and a consensus price target of $2.00.

Get Our Latest Report on PACB

Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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