207,997 Shares in Pacific Biosciences of California (PACB) Purchased by ING Groep NV

ING Groep NV purchased a new position in shares of Pacific Biosciences of California (NASDAQ:PACB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 207,997 shares of the biotechnology company’s stock, valued at approximately $549,000. ING Groep NV owned about 0.18% of Pacific Biosciences of California at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC grew its position in Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 7,225 shares during the last quarter. Voya Investment Management LLC grew its position in Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 6,218 shares during the last quarter. Aperio Group LLC grew its position in Pacific Biosciences of California by 105.5% during the 3rd quarter. Aperio Group LLC now owns 42,396 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 21,766 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Pacific Biosciences of California during the 2nd quarter worth approximately $155,000. Finally, Moloney Securities Asset Management LLC bought a new stake in Pacific Biosciences of California during the 4th quarter worth approximately $154,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Pacific Biosciences of California (NASDAQ PACB) opened at $2.57 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 0.10. Pacific Biosciences of California has a 12 month low of $2.21 and a 12 month high of $5.74.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, February 1st. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.02. The company had revenue of $24.94 million for the quarter, compared to the consensus estimate of $21.89 million. Pacific Biosciences of California had a negative return on equity of 96.55% and a negative net margin of 98.63%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.21) EPS. sell-side analysts anticipate that Pacific Biosciences of California will post -0.68 EPS for the current year.

Several research analysts have issued reports on the company. BidaskClub downgraded Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a report on Saturday, January 13th. Zacks Investment Research downgraded Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, First Analysis downgraded Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock. in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.27.

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Pacific Biosciences of California Company 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.

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

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