4,896,844 Shares in Pacific Biosciences of California, Inc. (NASDAQ:PACB) Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,896,844 shares of the biotechnology company's stock, valued at approximately $8,962,000. T. Rowe Price Investment Management Inc. owned 1.79% of Pacific Biosciences of California at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. increased its stake in Pacific Biosciences of California by 50.0% in the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company's stock valued at $27,000 after buying an additional 5,000 shares during the period. First Trust Advisors LP acquired a new position in shares of Pacific Biosciences of California in the fourth quarter worth $42,000. FNY Investment Advisers LLC purchased a new stake in shares of Pacific Biosciences of California during the fourth quarter worth $45,000. Cibc World Markets Corp acquired a new stake in Pacific Biosciences of California during the fourth quarter valued at $47,000. Finally, RPO LLC purchased a new position in Pacific Biosciences of California in the fourth quarter valued at about $58,000.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Michele Farmer sold 24,349 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, the insider now directly owns 187,592 shares in the company, valued at approximately $352,672.96. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PACB shares. The Goldman Sachs Group dropped their price objective 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. StockNews.com upgraded shares of Pacific Biosciences of California to a "sell" rating in a report on Tuesday, February 25th. 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 report on Tuesday, March 25th. 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 report on Thursday, February 20th. Finally, Stephens reiterated an "overweight" rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.45.

Pacific Biosciences of California Price Performance

Shares of PACB stock traded up $0.02 during trading hours on Friday, hitting $1.13. The company had a trading volume of 5,908,510 shares, compared to its average volume of 9,716,307. Pacific Biosciences of California, Inc. has a 12 month low of $1.06 and a 12 month high of $2.72. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The firm's fifty day moving average is $1.26 and its 200 day moving average is $1.66. The firm has a market capitalization of $339.05 million, a price-to-earnings ratio of -0.69 and a beta of 2.04.

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