Two Sigma Investments LP Acquires 648,407 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Two Sigma Investments LP boosted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 139.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,113,577 shares of the biotechnology company's stock after acquiring an additional 648,407 shares during the period. Two Sigma Investments LP owned about 0.41% of Pacific Biosciences of California worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Pacific Biosciences of California by 178.9% during the fourth quarter. Barclays PLC now owns 1,660,059 shares of the biotechnology company's stock worth $3,038,000 after acquiring an additional 1,064,909 shares during the last quarter. ARK Investment Management LLC grew its holdings in Pacific Biosciences of California by 7.9% during the fourth quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock worth $65,961,000 after acquiring an additional 2,637,961 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in Pacific Biosciences of California in the fourth quarter valued at $8,962,000. New York State Common Retirement Fund grew its position in shares of Pacific Biosciences of California by 299.2% during the 4th quarter. New York State Common Retirement Fund now owns 84,725 shares of the biotechnology company's stock valued at $155,000 after acquiring an additional 63,500 shares during the period. Finally, Softbank Group CORP. acquired a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $37,426,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PACB. The Goldman Sachs Group cut their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating for the company in a research note on Tuesday, February 18th. Canaccord Genuity Group restated a "buy" rating and issued a $3.00 price objective on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. Wall Street Zen raised shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, March 25th. Finally, Piper Sandler lowered 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 report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.13.

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock traded down $0.03 during trading hours on Thursday, hitting $1.01. 1,754,115 shares of the company traded hands, compared to its average volume of 9,559,552. Pacific Biosciences of California, Inc. has a 1-year low of $0.85 and a 1-year high of $2.72. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm's 50-day simple moving average is $1.14 and its two-hundred day simple moving average is $1.49. The firm has a market cap of $301.59 million, a P/E ratio of -0.61 and a beta of 2.10.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. The firm had revenue of $37.15 million for the quarter, compared to the consensus estimate of $36.90 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter in the previous year, the company earned ($0.26) EPS. As a group, 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.