Toronto Dominion Bank Purchases New Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Toronto Dominion Bank acquired a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP purchased a new position in Pacific Biosciences of California in the fourth quarter valued at about $42,000. Boothbay Fund Management LLC bought a new position in Pacific Biosciences of California in the fourth quarter worth about $43,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Pacific Biosciences of California during the fourth quarter valued at approximately $44,000. Cibc World Markets Corp acquired a new stake in Pacific Biosciences of California in the fourth quarter worth $47,000. Finally, RPO LLC bought a new stake in Pacific Biosciences of California in the fourth quarter valued at $58,000.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on 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. Canaccord Genuity Group reaffirmed a "buy" rating and set a $3.00 target price on shares of Pacific Biosciences of California in a report on Thursday, April 10th. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a report on Tuesday, March 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. Finally, Piper Sandler dropped their target price on Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.34.

Pacific Biosciences of California Price Performance

PACB stock traded down $0.01 during trading on Tuesday, hitting $0.91. 14,485,767 shares of the stock traded hands, compared to its average volume of 9,504,680. The stock has a market cap of $273.14 million, a price-to-earnings ratio of -0.56 and a beta of 2.19. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a one year low of $0.91 and a one year high of $2.72. The company has a 50 day simple moving average of $1.17 and a 200 day simple moving average of $1.53.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly 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 business had revenue of $37.15 million for the quarter, compared to analyst estimates of $36.90 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Equities analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS 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.