Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC lifted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 34,504,273 shares of the biotechnology company's stock after purchasing an additional 4,681,833 shares during the quarter. Pacific Biosciences of California comprises 2.0% of ARK Investment Management LLC's holdings, making the stock its 17th biggest position. ARK Investment Management LLC owned approximately 12.90% of Pacific Biosciences of California worth $338,487,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PACB. Assenagon Asset Management S.A. increased its position in shares of Pacific Biosciences of California by 2,201.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,041,624 shares of the biotechnology company's stock worth $29,838,000 after acquiring an additional 2,909,439 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Pacific Biosciences of California by 64.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,782 shares of the biotechnology company's stock worth $204,000 after purchasing an additional 8,168 shares in the last quarter. Raymond James & Associates raised its stake in shares of Pacific Biosciences of California by 22.5% in the 4th quarter. Raymond James & Associates now owns 67,393 shares of the biotechnology company's stock valued at $661,000 after purchasing an additional 12,373 shares during the period. McGuire Investment Group LLC lifted its holdings in shares of Pacific Biosciences of California by 32.3% in the fourth quarter. McGuire Investment Group LLC now owns 35,484 shares of the biotechnology company's stock valued at $348,000 after purchasing an additional 8,664 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of Pacific Biosciences of California by 11.9% during the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company's stock worth $184,000 after buying an additional 1,991 shares during the period.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 31,012 shares of the firm's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $7.77, for a total value of $240,963.24. Following the transaction, the insider now directly owns 910,171 shares of the company's stock, valued at $7,072,028.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David W. Meline acquired 40,000 shares of the firm's stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $4.40 per share, for a total transaction of $176,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $176,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Oene Mark Van sold 31,012 shares of the business's stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $7.77, for a total value of $240,963.24. Following the completion of the transaction, the insider now directly owns 910,171 shares in the company, valued at approximately $7,072,028.67. The disclosure for this sale can be found here. Insiders sold 68,371 shares of company stock valued at $459,806 in the last three months. Corporate insiders own 1.90% of the company's stock.

Pacific Biosciences of California Price Performance

PACB traded up $0.03 during trading on Thursday, hitting $3.75. 6,560,447 shares of the stock traded hands, compared to its average volume of 8,815,038. The business has a 50 day moving average price of $5.45 and a 200 day moving average price of $7.36. The company has a debt-to-equity ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.21. Pacific Biosciences of California, Inc. has a twelve month low of $3.45 and a twelve month high of $14.55. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -3.11 and a beta of 1.87.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last released its earnings results on Thursday, February 15th. The biotechnology company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.02. The business had revenue of $58.36 million during the quarter, compared to analysts' expectations of $57.96 million. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The firm's revenue was up 113.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) earnings per share. Equities research analysts forecast that Pacific Biosciences of California, Inc. will post -1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research report on Wednesday, March 20th. UBS Group lowered their price target on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a "buy" rating on the stock in a research note on Friday, February 16th. Stephens began coverage on Pacific Biosciences of California in a report on Thursday, December 14th. They issued an "overweight" rating and a $11.00 price objective for the company. Wolfe Research started coverage on shares of Pacific Biosciences of California in a research note on Wednesday, December 13th. They issued a "peer perform" rating for the company. Finally, Guggenheim started coverage on shares of Pacific Biosciences of California in a research note on Thursday, December 14th. They issued a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.90.

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.