Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Bought by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC raised its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 150.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,000,000 shares of the biotechnology company’s stock after purchasing an additional 1,200,000 shares during the period. Koss Olinger Consulting LLC owned about 0.73% of Pacific Biosciences of California worth $3,660,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Cibc World Markets Corp acquired a new position in shares of Pacific Biosciences of California in the 4th quarter valued at approximately $47,000. Carret Asset Management LLC raised its position in shares of Pacific Biosciences of California by 31.9% in the 4th quarter. Carret Asset Management LLC now owns 215,000 shares of the biotechnology company’s stock valued at $393,000 after purchasing an additional 52,000 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new stake in shares of Pacific Biosciences of California during the 4th quarter valued at approximately $146,000. Wealthfront Advisers LLC raised its position in shares of Pacific Biosciences of California by 50.8% during the 4th quarter. Wealthfront Advisers LLC now owns 62,648 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 21,092 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Pacific Biosciences of California by 44.5% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 897,058 shares of the biotechnology company’s stock valued at $1,642,000 after acquiring an additional 276,351 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Stephens reissued an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research report on Friday, February 14th. Piper Sandler reissued a “neutral” rating and set a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. The Goldman Sachs Group dropped their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.79.

Pacific Biosciences of California Trading Down 1.6 %

Shares of Pacific Biosciences of California stock opened at $1.22 on Wednesday. The company has a quick ratio of 8.64, a current ratio of 9.74 and a debt-to-equity ratio of 1.97. The firm has a market cap of $334.11 million, a price-to-earnings ratio of -0.74 and a beta of 1.86. The business has a fifty day simple moving average of $1.57 and a 200-day simple moving average of $1.78. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $4.10.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate 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 business had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. On average, equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Michele Farmer sold 24,349 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the sale, the insider now directly owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Oene Mark Van sold 34,405 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $2.03, for a total value of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

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.