XTX Topco Ltd Takes $576,000 Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

XTX Topco Ltd purchased a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. ARK Investment Management LLC increased its holdings in Pacific Biosciences of California by 1.2% during the 1st quarter. ARK Investment Management LLC now owns 36,478,441 shares of the biotechnology company's stock worth $43,045,000 after purchasing an additional 434,079 shares during the period. Softbank Group CORP. acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $37,426,000. Millennium Management LLC increased 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 buying an additional 6,840,953 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in Pacific Biosciences of California in the fourth quarter valued at approximately $8,962,000. Finally, Northern Trust Corp raised its holdings in 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 valued at $4,602,000 after acquiring an additional 157,145 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens reissued 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 reiterated a "buy" rating and set a $3.00 target price on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. Piper Sandler cut their price target on 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. Finally, Barclays lowered their price objective on Pacific Biosciences of California from $2.00 to $1.50 and set an "equal weight" rating for the company in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.06.

Pacific Biosciences of California Stock Performance

NASDAQ PACB traded up $0.09 during trading hours on Friday, hitting $1.35. The company had a trading volume of 10,428,064 shares, compared to its average volume of 9,856,329. The business has a 50 day moving average of $1.35 and a 200-day moving average of $1.32. The company has a market cap of $405.11 million, a PE ratio of -0.48 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 debt-to-equity ratio of 7.05, a quick ratio of 5.87 and a current ratio of 6.68.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 430.93% and a negative return on equity of 52.07%. As a group, equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Pacific Biosciences of California 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.