409,370 Shares in Pacific Biosciences of California, Inc. $PACB Bought by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 409,370 shares of the biotechnology company’s stock, valued at approximately $524,000.

Several other large investors have also made changes to their positions in the business. Cim Investment Management Inc. boosted its stake in shares of Pacific Biosciences of California by 100.7% in the second quarter. Cim Investment Management Inc. now owns 25,550 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 12,822 shares during the period. SteelPeak Wealth LLC lifted its holdings in Pacific Biosciences of California by 95.6% in the 3rd quarter. SteelPeak Wealth LLC now owns 29,930 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 14,626 shares in the last quarter. Prudential Financial Inc. boosted its stake in Pacific Biosciences of California by 73.0% in the 2nd quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 15,062 shares during the period. Financial Advocates Investment Management purchased a new stake in Pacific Biosciences of California during the 2nd quarter valued at approximately $50,000. Finally, Western Wealth Management LLC purchased a new stake in Pacific Biosciences of California during the 3rd quarter valued at approximately $52,000.

Insider Transactions at Pacific Biosciences of California

In other news, insider Michele Farmer sold 35,215 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $1.58, for a total value of $55,639.70. Following the completion of the sale, the insider owned 234,044 shares of the company’s stock, valued at approximately $369,789.52. This represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Oene Mark Van sold 55,107 shares of Pacific Biosciences of California stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.63, for a total transaction of $89,824.41. Following the transaction, the insider directly owned 1,742,638 shares in the company, valued at approximately $2,840,499.94. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 707,731 shares of company stock valued at $1,128,762. Company insiders own 2.40% of the company’s stock.

Pacific Biosciences of California Price Performance

PACB opened at $1.58 on Tuesday. The company has a market capitalization of $477.02 million, a price-to-earnings ratio of -0.86 and a beta of 2.26. The company has a current ratio of 6.24, a quick ratio of 5.40 and a debt-to-equity ratio of 17.88. Pacific Biosciences of California, Inc. has a 12-month low of $0.85 and a 12-month high of $2.73. The business’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $1.78.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Pacific Biosciences of California had a negative net margin of 341.47% and a negative return on equity of 251.75%. The company had revenue of $44.65 million during the quarter, compared to analyst estimates of $44.60 million. On average, equities research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Pacific Biosciences of California from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Stephens boosted their target price on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Barclays boosted their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research report on Thursday, January 22nd. Finally, Piper Sandler increased their target price on Pacific Biosciences of California from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.20.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.