Vanguard Group Inc. Has $19.19 Million Stake in Pacific Biosciences of California, Inc. $PACB

Key Points

• Vanguard Group Inc. increased its stake in Pacific Biosciences of California by 6.8%, owning approximately 16.26 million shares valued at $19.19 million as of the latest SEC filing.
• The company's earnings report for the quarter ending August 7 showed a loss of ($0.13) EPS, which was better than analyst expectations, with revenues reaching $39.77 million.
• Pacific Biosciences currently has a market cap of $393.48 million and recent analyst ratings reflect a consensus price target of $1.90 with a majority of analysts rating it as a "Hold."

Vanguard Group Inc. boosted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 6.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,263,464 shares of the biotechnology company's stock after purchasing an additional 1,036,606 shares during the period. Vanguard Group Inc. owned 5.42% of Pacific Biosciences of California worth $19,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PACB. Softbank Group CORP. acquired a new stake in Pacific Biosciences of California during the 4th quarter valued at $37,426,000. Millennium Management LLC increased 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 purchasing an additional 6,840,953 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at $1,556,000. Two Sigma Investments LP increased its stake in shares of Pacific Biosciences of California by 139.4% in the 4th quarter. Two Sigma Investments LP now owns 1,113,577 shares of the biotechnology company's stock valued at $2,038,000 after buying an additional 648,407 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at $576,000.

Pacific Biosciences of California Stock Performance

PACB stock opened at $1.31 on Friday. The business's 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.29. The company has a current ratio of 6.92, a quick ratio of 6.02 and a debt-to-equity ratio of 10.51. The firm has a market cap of $393.48 million, a PE ratio of -0.57 and a beta of 2.17. Pacific Biosciences of California, Inc. has a 1-year low of $0.85 and a 1-year high of $2.72.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.05. The business had revenue of $39.77 million for the quarter, compared to the consensus estimate of $36.35 million. Pacific Biosciences of California had a negative return on equity of 66.75% and a negative net margin of 336.40%. As a group, research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stephens reissued an "overweight" rating and issued a $1.80 target price on shares of Pacific Biosciences of California in a research note on Thursday, May 15th. Barclays lowered their target price on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Wednesday, June 25th. Piper Sandler lifted their target price on Pacific Biosciences of California from $1.25 to $1.50 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Wall Street Zen raised Pacific Biosciences of California from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $1.90.

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.

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