Caxton Associates LP Takes Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Caxton Associates LP acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 315,348 shares of the biotechnology company's stock, valued at approximately $577,000. Caxton Associates LP owned approximately 0.12% of Pacific Biosciences of California at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Pacific Biosciences of California by 143.0% in the 3rd quarter. Barclays PLC now owns 595,150 shares of the biotechnology company's stock valued at $1,011,000 after acquiring an additional 350,196 shares during the period. JPMorgan Chase & Co. grew its stake in Pacific Biosciences of California by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 564,507 shares of the biotechnology company's stock valued at $960,000 after purchasing an additional 45,957 shares during the last quarter. Nordea Investment Management AB raised its holdings in Pacific Biosciences of California by 21.5% in the fourth quarter. Nordea Investment Management AB now owns 517,185 shares of the biotechnology company's stock worth $915,000 after purchasing an additional 91,559 shares in the last quarter. Green Alpha Advisors LLC lifted its position in shares of Pacific Biosciences of California by 59.5% during the fourth quarter. Green Alpha Advisors LLC now owns 102,421 shares of the biotechnology company's stock valued at $187,000 after buying an additional 38,208 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter valued at about $45,000.

Pacific Biosciences of California Stock Performance

NASDAQ:PACB traded up $0.01 during midday trading on Monday, reaching $1.13. The stock had a trading volume of 5,126,152 shares, compared to its average volume of 9,602,425. Pacific Biosciences of California, Inc. has a 1-year low of $1.06 and a 1-year high of $2.72. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The stock has a market capitalization of $337.55 million, a P/E ratio of -0.69 and a beta of 2.19. The firm's fifty day simple moving average is $1.23 and its 200-day simple moving average is $1.63.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.04. The firm had revenue of $37.15 million for the quarter, compared to analyst estimates of $36.90 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same period last year, the company earned ($0.26) EPS. On average, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total transaction of $45,776.12. Following the transaction, the insider now owns 187,592 shares in the company, valued at $352,672.96. This represents a 11.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reissued a "neutral" rating and set a $2.00 price objective (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. StockNews.com raised shares of Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. Scotiabank reduced their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. The Goldman Sachs Group dropped their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $3.00 price target on shares of Pacific Biosciences of California in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $2.50.

About Pacific Biosciences of California

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.