Edmond DE Rothschild Holding S.A. Boosts Stock Position in Pacific Biosciences of California, Inc. $PACB

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Pacific Biosciences of California by 2.4%, now owning approximately 7.28% of the company, valued at $25.79 million.
• Several institutional investors boosted their positions in PACB, with Wells Fargo increasing theirs by 26.3% in the last quarter.
• Pacific Biosciences reported a quarterly loss of ($0.13) EPS, surpassing estimates, and revenue of $39.77 million, exceeding expectations of $36.35 million.

Edmond DE Rothschild Holding S.A. lifted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,855,180 shares of the biotechnology company's stock after purchasing an additional 508,700 shares during the quarter. Edmond DE Rothschild Holding S.A. owned about 7.28% of Pacific Biosciences of California worth $25,789,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. ARK Investment Management LLC boosted its position in shares of Pacific Biosciences of California by 1.2% in the 1st quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company's stock worth $43,045,000 after purchasing an additional 434,079 shares in the last quarter. Softbank Group CORP. acquired a new stake in Pacific Biosciences of California during the 4th quarter worth about $37,426,000. Millennium Management LLC lifted its position in Pacific Biosciences of California by 66.9% during the 4th quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company's stock worth $31,230,000 after acquiring an additional 6,840,953 shares during the period. Vanguard Group Inc. lifted its position in Pacific Biosciences of California by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 16,263,464 shares of the biotechnology company's stock worth $19,191,000 after acquiring an additional 1,036,606 shares during the period. Finally, Koss Olinger Consulting LLC lifted its position in Pacific Biosciences of California by 50.0% during the 1st quarter. Koss Olinger Consulting LLC now owns 3,000,000 shares of the biotechnology company's stock worth $3,540,000 after acquiring an additional 1,000,000 shares during the period.

Pacific Biosciences of California Price Performance

Shares of Pacific Biosciences of California stock traded up $0.05 on Tuesday, hitting $1.30. The company's stock had a trading volume of 2,259,361 shares, compared to its average volume of 9,404,330. Pacific Biosciences of California, Inc. has a 1 year low of $0.85 and a 1 year high of $2.72. The firm has a fifty day moving average price of $1.39 and a 200-day moving average price of $1.27. The company has a debt-to-equity ratio of 10.51, a quick ratio of 6.02 and a current ratio of 6.92. The company has a market capitalization of $388.98 million, a price-to-earnings ratio of -0.57 and a beta of 1.87.

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) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. Pacific Biosciences of California had a negative return on equity of 66.75% and a negative net margin of 336.40%.The company had revenue of $39.77 million during the quarter, compared to analyst estimates of $36.35 million. As a group, sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on PACB shares. 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 research report on Wednesday, June 25th. Piper Sandler boosted their price objective 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. Stephens reissued an "overweight" rating and issued a $1.80 price objective on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Finally, Wall Street Zen raised Pacific Biosciences of California from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $1.90.

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.