BNP Paribas Financial Markets Sells 291,860 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

BNP Paribas Financial Markets trimmed its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,868 shares of the biotechnology company's stock after selling 291,860 shares during the period. BNP Paribas Financial Markets owned 0.14% of Pacific Biosciences of California worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. First Trust Advisors LP acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $42,000. Boothbay Fund Management LLC acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $43,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $44,000. Cibc World Markets Corp acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $47,000. Finally, RPO LLC acquired a new position in shares of Pacific Biosciences of California in the fourth quarter valued at about $58,000.

Analyst Ratings Changes

Several analysts have recently issued reports on PACB shares. Scotiabank reduced their target price on Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating on the stock in a report on Tuesday, March 25th. Stephens reaffirmed an "overweight" rating and issued a $1.80 price objective on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Wall Street Zen raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their target price on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Pacific Biosciences of California has a consensus rating of "Hold" and an average target price of $2.34.

Pacific Biosciences of California Trading Down 3.9%

PACB stock traded down $0.04 during trading on Wednesday, hitting $0.88. 2,858,749 shares of the company traded hands, compared to its average volume of 9,483,663. The firm has a market capitalization of $262.57 million, a PE ratio of -0.52 and a beta of 2.19. Pacific Biosciences of California, Inc. has a 1 year low of $0.85 and a 1 year high of $2.72. The company has a 50-day moving average of $1.16 and a 200-day moving average of $1.53. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. The firm had revenue of $37.15 million for the quarter, compared to analysts' expectations of $36.90 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. Analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Pacific Biosciences of California 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.