PEAK6 LLC Invests $933,000 in Pacific Biosciences of California, Inc. $PACB

PEAK6 LLC acquired a new stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 555,552 shares of the biotechnology company’s stock, valued at approximately $933,000. PEAK6 LLC owned about 0.18% of Pacific Biosciences of California as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Outlook Wealth Advisors LLC acquired a new stake in shares of Pacific Biosciences of California during the 4th quarter worth approximately $34,000. Cibc World Markets Corp acquired a new position in Pacific Biosciences of California during the 4th quarter valued at approximately $34,000. Essential Partners LLC bought a new position in Pacific Biosciences of California during the 1st quarter worth $25,000. Zacks Investment Management bought a new position in Pacific Biosciences of California during the 3rd quarter worth $25,000. Finally, Pinegrove Venture Partners LLC acquired a new stake in Pacific Biosciences of California in the second quarter worth $34,584,000.

Analyst Ratings Changes

PACB has been the topic of a number of recent research reports. Weiss Ratings upgraded Pacific Biosciences of California from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Barclays lifted their price objective on shares of Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $1.83.

Insider Transactions at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 26,911 shares of Pacific Biosciences of California stock in a transaction on Monday, August 17th. The stock was sold at an average price of $1.13, for a total transaction of $30,409.43. Following the transaction, the insider directly owned 2,705,853 shares in the company, valued at approximately $3,057,613.89. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.70% of the company’s stock.

Pacific Biosciences of California Stock Performance

PACB stock opened at $1.35 on Monday. The firm’s 50-day moving average is $1.41 and its two-hundred day moving average is $1.46. The company has a market capitalization of $419.62 million, a price-to-earnings ratio of -3.14 and a beta of 2.31. Pacific Biosciences of California, Inc. has a 52 week low of $1.07 and a 52 week high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Monday, August 3rd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Pacific Biosciences of California had a negative net margin of 82.49% and a negative return on equity of 5,752.12%. The company had revenue of $39.01 million during the quarter, compared to the consensus estimate of $42.90 million. On average, equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.52 earnings per share for the current year.

Pacific Biosciences of California Company 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.