Pacific Biosciences of California (PACB) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its position in Pacific Biosciences of California (NASDAQ:PACB) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,076,060 shares of the biotechnology company’s stock after buying an additional 84,795 shares during the period. Northern Trust Corp owned approximately 1.11% of Pacific Biosciences of California worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PACB. Rhumbline Advisers boosted its position in Pacific Biosciences of California by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 2,650 shares in the last quarter. American International Group Inc. lifted its position in shares of Pacific Biosciences of California by 7.4% during the 1st quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock valued at $243,000 after buying an additional 3,258 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Pacific Biosciences of California by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 468,907 shares of the biotechnology company’s stock valued at $1,669,000 after buying an additional 3,970 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Pacific Biosciences of California by 2.3% during the 2nd quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock valued at $1,015,000 after buying an additional 6,274 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Pacific Biosciences of California by 0.8% in the 2nd quarter. Teachers Advisors LLC now owns 991,284 shares of the biotechnology company’s stock valued at $3,529,000 after purchasing an additional 7,574 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Shares of Pacific Biosciences of California (PACB) traded down $0.04 on Thursday, hitting $2.77. The company’s stock had a trading volume of 780,906 shares, compared to its average volume of 1,097,884. Pacific Biosciences of California has a twelve month low of $2.66 and a twelve month high of $7.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $23.54 million during the quarter, compared to the consensus estimate of $28.29 million. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company earned ($0.19) EPS. sell-side analysts forecast that Pacific Biosciences of California will post -0.88 EPS for the current fiscal year.

Several research analysts recently commented on PACB shares. Zacks Investment Research raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. First Analysis downgraded Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research note on Friday, November 3rd. Finally, CL King downgraded Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Pacific Biosciences of California presently has a consensus rating of “Hold” and a consensus target price of $6.27.

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Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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