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

Toronto Dominion Bank purchased 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 SEC. The firm purchased 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in PACB. Softbank Group CORP. purchased a new position in Pacific Biosciences of California during the 4th quarter valued at approximately $37,426,000. Millennium Management LLC grew its holdings 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 valued at $31,230,000 after buying an additional 6,840,953 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Pacific Biosciences of California during the 4th quarter valued at approximately $8,962,000. ARK Investment Management LLC grew its holdings in Pacific Biosciences of California by 7.9% during the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock valued at $65,961,000 after buying an additional 2,637,961 shares in the last quarter. Finally, Koss Olinger Consulting LLC grew its holdings in Pacific Biosciences of California by 150.0% during the 4th quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company's stock valued at $3,660,000 after buying an additional 1,200,000 shares in the last quarter.

Pacific Biosciences of California Trading Down 1.9%

Shares of PACB stock traded down $0.02 on Wednesday, reaching $1.03. 4,833,937 shares of the company's stock were exchanged, compared to its average volume of 9,590,372. Pacific Biosciences of California, Inc. has a 52 week low of $0.85 and a 52 week high of $2.72. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $309.09 million, a PE ratio of -0.63 and a beta of 2.10. The company's fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.49.

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, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $36.90 million. During the same period last year, the company earned ($0.26) EPS. As a group, analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

PACB has been the subject of several research analyst reports. Scotiabank cut their price target on 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. Canaccord Genuity Group reiterated a "buy" rating and issued a $3.00 target price on shares of Pacific Biosciences of California in a report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Piper Sandler dropped their target price on Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.13.

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.