Two Sigma Investments LP Grows Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Two Sigma Investments LP raised its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 139.4% in 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 quarter. Two Sigma Investments LP owned approximately 0.41% of Pacific Biosciences of California worth $2,038,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PACB. ARK Investment Management LLC boosted its stake in shares of Pacific Biosciences of California by 7.9% in 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 during the period. Edmond DE Rothschild Holding S.A. lifted its stake in Pacific Biosciences of California by 5.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 21,346,480 shares of the biotechnology company's stock valued at $39,064,000 after buying an additional 1,038,600 shares during the last quarter. Softbank Group CORP. purchased a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $37,426,000. Millennium Management LLC raised its stake in shares of Pacific Biosciences of California by 66.9% during the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company's stock worth $31,230,000 after purchasing an additional 6,840,953 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth approximately $8,962,000.

Analyst Ratings Changes

Several research firms have recently commented on PACB. Wall Street Zen upgraded Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on Pacific Biosciences of California from $1.75 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Stephens restated an "overweight" rating and issued a $1.80 price objective on shares of Pacific Biosciences of California in a research report on Thursday, May 15th. Canaccord Genuity Group restated a "buy" rating and issued a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. Finally, Scotiabank reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $2.13.

Pacific Biosciences of California Trading Down 2.9%

NASDAQ PACB traded down $0.03 during trading hours on Thursday, hitting $1.00. 6,233,569 shares of the company's stock were exchanged, compared to its average volume of 9,576,976. The business's 50 day moving average is $1.13 and its 200-day moving average is $1.49. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.72. The firm has a market capitalization of $300.09 million, a P/E ratio of -0.61 and a beta of 2.10. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping 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 firm had revenue of $37.15 million for the quarter, compared to the consensus estimate of $36.90 million. During the same period in the prior year, the business posted ($0.26) earnings per share. As a group, analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

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.