Universal Beteiligungs und Servicegesellschaft mbH Makes New $482,000 Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 408,700 shares of the biotechnology company's stock, valued at approximately $482,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Pacific Biosciences of California at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PACB. Softbank Group CORP. purchased a new position in shares of Pacific Biosciences of California in the fourth quarter worth $37,426,000. Millennium Management LLC lifted its holdings in shares of Pacific Biosciences of California by 66.9% in the fourth quarter. Millennium Management LLC now owns 17,065,331 shares of the biotechnology company's stock worth $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 shares of Pacific Biosciences of California in the fourth quarter worth $8,962,000. Northern Trust Corp lifted its holdings in shares of Pacific Biosciences of California by 6.7% in the fourth quarter. Northern Trust Corp now owns 2,514,824 shares of the biotechnology company's stock worth $4,602,000 after buying an additional 157,145 shares in the last quarter. Finally, Soros Fund Management LLC lifted its holdings in shares of Pacific Biosciences of California by 13.1% in the fourth quarter. Soros Fund Management LLC now owns 2,372,265 shares of the biotechnology company's stock worth $4,341,000 after buying an additional 274,265 shares in the last quarter.

Analyst Ratings Changes

PACB has been the subject of a number of recent research reports. Piper Sandler cut their target price on shares of 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. Barclays cut their target price on shares of Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a report on Wednesday, June 25th. Stephens reissued an "overweight" rating and issued a $1.80 target price on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $3.00 price objective on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $2.06.

Pacific Biosciences of California Trading Up 2.2%

Shares of PACB traded up $0.03 during trading hours on Tuesday, reaching $1.42. 4,662,159 shares of the company traded hands, compared to its average volume of 7,428,064. The firm has a market cap of $426.11 million, a price-to-earnings ratio of -0.51 and a beta of 2.17. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.72. The company has a current ratio of 6.68, a quick ratio of 5.87 and a debt-to-equity ratio of 7.05. The stock's fifty day moving average price is $1.33 and its 200 day moving average price is $1.32.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.04. The firm had revenue of $37.15 million during the quarter, compared to analyst estimates of $36.90 million. Pacific Biosciences of California had a negative net margin of 430.93% and a negative return on equity of 52.07%. During the same period in the previous year, the firm earned ($0.26) earnings per share. Sell-side analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current 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.