850,000 Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB) Bought by Toronto Dominion Bank

Toronto Dominion Bank acquired a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 850,000 shares of the biotechnology company's stock, valued at approximately $1,556,000. Toronto Dominion Bank owned approximately 0.31% of Pacific Biosciences of California at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of 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 worth $960,000 after buying an additional 45,957 shares during the period. Impact Partnership Wealth LLC boosted its holdings in shares of Pacific Biosciences of California by 29.5% in the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company's stock worth $93,000 after buying an additional 11,566 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Pacific Biosciences of California by 218.3% in the fourth quarter. Sanctuary Advisors LLC now owns 35,457 shares of the biotechnology company's stock worth $65,000 after buying an additional 24,318 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Pacific Biosciences of California by 299.2% in the fourth quarter. New York State Common Retirement Fund now owns 84,725 shares of the biotechnology company's stock worth $155,000 after buying an additional 63,500 shares during the period. Finally, IFP Advisors Inc raised its stake in Pacific Biosciences of California by 24.0% during the 4th quarter. IFP Advisors Inc now owns 201,585 shares of the biotechnology company's stock valued at $369,000 after purchasing an additional 38,984 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PACB. Wall Street Zen raised shares of Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. Stephens reissued an "overweight" rating and set a $1.80 target price on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Canaccord Genuity Group reissued a "buy" rating and set a $3.00 target price on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. Piper Sandler cut their target price on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $2.34.

Pacific Biosciences of California Stock Up 21.4%

Shares of NASDAQ PACB traded up $0.19 during mid-day trading on Wednesday, reaching $1.11. The company had a trading volume of 22,559,238 shares, compared to its average volume of 10,332,021. The stock has a fifty day moving average of $1.16 and a two-hundred 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. The company has a market capitalization of $331.59 million, a price-to-earnings ratio of -0.67 and a beta of 2.19. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.72.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings data 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. 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 net margin of 200.40% and a negative return on equity of 42.89%. During the same quarter last year, the firm earned ($0.26) earnings per share. As a group, equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current 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.