Softbank Group CORP. Makes New Investment in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Softbank Group CORP. acquired a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 20,451,570 shares of the biotechnology company's stock, valued at approximately $37,426,000. Pacific Biosciences of California makes up about 0.2% of Softbank Group CORP.'s holdings, making the stock its 15th biggest position. Softbank Group CORP. owned about 7.47% of Pacific Biosciences of California as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PACB. Hsbc Holdings PLC increased its holdings in Pacific Biosciences of California by 10.3% in the 4th quarter. Hsbc Holdings PLC now owns 86,809 shares of the biotechnology company's stock valued at $154,000 after acquiring an additional 8,106 shares during the last quarter. Impact Partnership Wealth LLC increased its position in Pacific Biosciences of California by 29.5% in the fourth quarter. Impact Partnership Wealth LLC now owns 50,735 shares of the biotechnology company's stock worth $93,000 after purchasing an additional 11,566 shares during the last quarter. Stifel Financial Corp raised its stake in Pacific Biosciences of California by 33.2% during the fourth quarter. Stifel Financial Corp now owns 67,531 shares of the biotechnology company's stock valued at $124,000 after purchasing an additional 16,843 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Pacific Biosciences of California by 50.8% in the 4th quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company's stock worth $115,000 after buying an additional 21,092 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Pacific Biosciences of California by 32.8% in the 4th quarter. ProShare Advisors LLC now owns 90,008 shares of the biotechnology company's stock worth $165,000 after buying an additional 22,215 shares during the last quarter.

Pacific Biosciences of California Stock Down 1.4%

Shares of PACB traded down $0.02 during mid-day trading on Monday, hitting $1.02. The company's stock had a trading volume of 4,188,489 shares, compared to its average volume of 9,501,529. The firm has a market capitalization of $306.09 million, a price-to-earnings ratio of -0.62 and a beta of 2.19. The company's 50-day moving average is $1.20 and its 200-day moving average is $1.60. The company has a current ratio of 9.74, a quick ratio of 8.64 and a debt-to-equity ratio of 1.97. Pacific Biosciences of California, Inc. has a 52-week low of $0.95 and a 52-week high of $2.72.

Pacific Biosciences of California (NASDAQ:PACB - Get Free Report) last announced its earnings results on Thursday, May 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.04. The business had revenue of $37.15 million for the quarter, compared to analysts' expectations of $36.90 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 last year, the firm earned ($0.26) EPS. On average, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Michele Farmer sold 24,349 shares of the firm's 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. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PACB has been the topic of several analyst reports. StockNews.com raised Pacific Biosciences of California to a "sell" rating in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on 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. Scotiabank dropped 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 note on Tuesday, March 25th. 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. Finally, Piper Sandler lowered their target price on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a "neutral" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Pacific Biosciences of California currently has an average rating of "Hold" and an average price target of $2.34.

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.