Nuveen LLC Takes Position in Pacific Biosciences of California, Inc. $PACB

Key Points

• Nuveen LLC has invested approximately $319,000 in Pacific Biosciences of California, acquiring 270,184 shares, representing about 0.09% of the company.
• Pacific Biosciences reported a revenue of $39.77 million for the quarter, exceeding analyst estimates, and a smaller-than-expected loss of ($0.13) EPS.
• Analysts have mixed ratings for PACB, with three rating it as a Buy and four as a Hold, while the consensus price target stands at $1.90.

Nuveen LLC acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 270,184 shares of the biotechnology company's stock, valued at approximately $319,000. Nuveen LLC owned approximately 0.09% of Pacific Biosciences of California as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PACB. Raymond James Financial Inc. acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $253,000. First Trust Advisors LP acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $42,000. Stifel Financial Corp grew its position in shares of Pacific Biosciences of California by 33.2% during the fourth 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 in the last quarter. Hsbc Holdings PLC grew its position in shares of Pacific Biosciences of California by 10.3% during the fourth quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company's stock worth $154,000 after buying an additional 8,106 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Pacific Biosciences of California by 6.7% during the fourth quarter. Northern Trust Corp now owns 2,514,824 shares of the biotechnology company's stock worth $4,602,000 after buying an additional 157,145 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PACB. Stephens reaffirmed an "overweight" rating and issued a $1.80 price target on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Wall Street Zen raised Pacific Biosciences of California from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Barclays lowered their price target on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a report on Wednesday, June 25th. Finally, Piper Sandler upped their price target on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a "neutral" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Pacific Biosciences of California presently has a consensus rating of "Hold" and an average price target of $1.90.

Pacific Biosciences of California Stock Performance

Shares of PACB stock traded up $0.04 during trading hours on Thursday, hitting $1.26. The stock had a trading volume of 6,090,812 shares, compared to its average volume of 4,797,553. The firm has a market capitalization of $378.47 million, a PE ratio of -0.55 and a beta of 1.87. Pacific Biosciences of California, Inc. has a twelve month low of $0.85 and a twelve month high of $2.72. The stock's 50 day moving average is $1.38 and its 200 day moving average is $1.27. The company has a debt-to-equity ratio of 10.51, a current ratio of 6.92 and a quick ratio of 6.02.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. The business had revenue of $39.77 million during the quarter, compared to the consensus estimate of $36.35 million. Pacific Biosciences of California had a negative return on equity of 66.75% and a negative net margin of 336.40%. As a group, research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

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.