XTX Topco Ltd Acquires Shares of 488,237 Pacific Biosciences of California, Inc. (NASDAQ:PACB)

XTX Topco Ltd bought a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 488,237 shares of the biotechnology company's stock, valued at approximately $576,000. XTX Topco Ltd owned 0.16% of Pacific Biosciences of California at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PACB. Sandbox Financial Partners LLC bought a new position in shares of Pacific Biosciences of California during the 1st quarter valued at about $32,000. Hartline Investment Corp bought a new position in shares of Pacific Biosciences of California during the 1st quarter valued at about $37,000. First Trust Advisors LP purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at about $42,000. Boothbay Fund Management LLC purchased a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at about $43,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Pacific Biosciences of California during the 1st quarter valued at about $43,000.

Wall Street Analysts Forecast Growth

PACB has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research report on Wednesday, June 25th. Piper Sandler dropped 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 note on Thursday, May 15th. Stephens restated 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. Finally, Wall Street Zen upgraded shares of Pacific Biosciences of California from a "sell" rating to a "hold" rating in a research note on Saturday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $1.88.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB traded up $0.09 during midday trading on Friday, reaching $1.35. The company had a trading volume of 10,428,064 shares, compared to its average volume of 7,427,273. The business's 50-day simple moving average is $1.35 and its 200 day simple moving average is $1.32. The stock has a market cap of $405.11 million, a P/E ratio of -0.59 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. The company has a current ratio of 6.68, a quick ratio of 5.87 and a debt-to-equity ratio of 7.05.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.05. The company 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 net margin of 336.40% and a negative return on equity of 52.99%. On average, 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.