Mirador Capital Partners LP Buys 289,148 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirador Capital Partners LP lifted its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 127.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,734 shares of the biotechnology company's stock after acquiring an additional 289,148 shares during the quarter. Mirador Capital Partners LP owned approximately 0.17% of Pacific Biosciences of California worth $609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Pacific Biosciences of California by 10.3% in the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company's stock valued at $154,000 after purchasing an additional 8,106 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Pacific Biosciences of California by 18.4% in the 1st quarter. AdvisorNet Financial Inc now owns 76,664 shares of the biotechnology company's stock worth $90,000 after buying an additional 11,895 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Pacific Biosciences of California by 33.2% in the 4th quarter. Stifel Financial Corp now owns 67,531 shares of the biotechnology company's stock worth $124,000 after buying an additional 16,843 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Pacific Biosciences of California by 4.8% in the 1st quarter. Rhumbline Advisers now owns 438,775 shares of the biotechnology company's stock worth $518,000 after buying an additional 20,153 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in shares of Pacific Biosciences of California by 50.8% in the 4th quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company's stock worth $115,000 after buying an additional 21,092 shares during the last quarter.

Pacific Biosciences of California Price Performance

Shares of PACB traded down $0.02 during midday trading on Thursday, hitting $1.01. 3,666,268 shares of the company traded hands, compared to its average volume of 10,169,254. The stock has a 50-day moving average of $1.14 and a 200-day moving average of $1.49. Pacific Biosciences of California, Inc. has a one year low of $0.85 and a one year high of $2.72. The firm has a market cap of $303.12 million, a P/E ratio of -0.62 and a beta of 2.10. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share 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 prior year, the business posted ($0.26) earnings per share. As a group, sell-side analysts predict that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PACB. Canaccord Genuity Group reissued a "buy" rating and issued a $3.00 price target on shares of Pacific Biosciences of California in a report on Thursday, April 10th. The Goldman Sachs Group dropped their price objective on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Scotiabank dropped their price objective on shares of 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 set a $1.80 price objective on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $2.13.

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.