Hhlr Advisors LTD. Acquires Shares of 918,892 Pacific Biosciences of California, Inc. $PACB

Hhlr Advisors LTD. bought a new stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 918,892 shares of the biotechnology company’s stock, valued at approximately $1,544,000. Pacific Biosciences of California accounts for about 0.2% of Hhlr Advisors LTD.’s holdings, making the stock its 28th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Outlook Wealth Advisors LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter valued at $34,000. Cibc World Markets Corp acquired a new stake in Pacific Biosciences of California in the fourth quarter worth about $34,000. Essential Partners LLC bought a new stake in Pacific Biosciences of California during the 1st quarter worth about $25,000. Zacks Investment Management bought a new stake in Pacific Biosciences of California during the 3rd quarter worth about $25,000. Finally, Pinegrove Venture Partners LLC acquired a new position in Pacific Biosciences of California during the 2nd quarter valued at about $34,584,000.

Pacific Biosciences of California Stock Performance

PACB opened at $1.56 on Thursday. The firm’s fifty day moving average is $1.41 and its two-hundred day moving average is $1.45. The firm has a market cap of $484.89 million, a PE ratio of -3.63 and a beta of 2.31. Pacific Biosciences of California, Inc. has a twelve month low of $1.07 and a twelve month high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results 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 firm had revenue of $39.01 million during the quarter, compared to analyst estimates of $42.90 million. Equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacific Biosciences of California news, insider Oene Mark Van sold 26,911 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1.13, for a total value of $30,409.43. Following the completion of the transaction, the insider directly owned 2,705,853 shares of the company’s stock, valued at approximately $3,057,613.89. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PACB shares. 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. Weiss Ratings raised shares of Pacific Biosciences of California from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Barclays increased 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 report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.83.

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.