Marshall Wace LLP Cuts Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Marshall Wace LLP lowered its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 97.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,900 shares of the biotechnology company's stock after selling 2,071,020 shares during the period. Marshall Wace LLP's holdings in Pacific Biosciences of California were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ARK Investment Management LLC lifted its stake in shares of Pacific Biosciences of California by 7.9% during the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company's stock worth $65,961,000 after purchasing an additional 2,637,961 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Pacific Biosciences of California by 5.1% during 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pacific Biosciences of California by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,176,252 shares of the biotechnology company's stock valued at $3,983,000 after buying an additional 135,949 shares in the last quarter. Koss Olinger Consulting LLC grew its position in shares of Pacific Biosciences of California by 150.0% in the 4th quarter. Koss Olinger Consulting LLC now owns 2,000,000 shares of the biotechnology company's stock worth $3,660,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Pacific Biosciences of California by 178.9% in the 4th quarter. Barclays PLC now owns 1,660,059 shares of the biotechnology company's stock worth $3,038,000 after buying an additional 1,064,909 shares during the last quarter.

Analysts Set New Price Targets

PACB has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of 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. Piper Sandler restated a "neutral" rating and set a $2.00 target price (down from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. Stephens reiterated an "overweight" rating and issued a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Canaccord Genuity Group restated a "buy" rating and set a $3.00 price target on shares of Pacific Biosciences of California in a research note on Thursday, April 10th. Finally, Scotiabank decreased their price objective on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.45.

Insider Activity

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the transaction, the insider now owns 187,592 shares of the company's stock, valued at approximately $352,672.96. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company's stock.

Pacific Biosciences of California Trading Down 0.9 %

Shares of Pacific Biosciences of California stock opened at $1.10 on Wednesday. The stock has a market cap of $330.05 million, a PE ratio of -0.67 and a beta of 2.19. The firm has a fifty day moving average price of $1.24 and a 200 day moving average price of $1.64. Pacific Biosciences of California, Inc. has a 1 year low of $1.06 and a 1 year high of $2.72. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last issued its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $39.22 million for the quarter, compared to the consensus estimate of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same quarter in the prior year, the business earned ($0.27) earnings per share. Equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current 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.

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