Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Acquired by ARK Investment Management LLC

ARK Investment Management LLC lifted its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,406,401 shares of the biotechnology company’s stock after acquiring an additional 193,947 shares during the period. ARK Investment Management LLC owned 12.26% of Pacific Biosciences of California worth $56,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PACB. Clear Harbor Asset Management LLC boosted its stake in Pacific Biosciences of California by 4.4% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock worth $164,000 after purchasing an additional 5,000 shares during the last quarter. Swiss National Bank raised its holdings in Pacific Biosciences of California by 1.3% in the 1st quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock valued at $1,782,000 after acquiring an additional 6,200 shares during the last quarter. Creative Planning lifted its stake in Pacific Biosciences of California by 30.8% in the 3rd quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 7,629 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $32,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Pacific Biosciences of California by 4.2% in the second quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 9,516 shares during the last quarter.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $1.66, for a total transaction of $63,098.26. Following the transaction, the insider now owns 1,630,815 shares in the company, valued at approximately $2,707,152.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $1.59, for a total value of $42,548.40. Following the completion of the sale, the insider now owns 869,730 shares in the company, valued at approximately $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PACB. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $3.50 target price on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Canaccord Genuity Group dropped their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Scotiabank cut their price target on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 28th. Finally, Morgan Stanley decreased their price objective on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.50.

Pacific Biosciences of California Stock Down 7.5 %

Shares of NASDAQ:PACB opened at $2.45 on Friday. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $10.65. The firm’s 50 day moving average price is $1.84 and its 200 day moving average price is $1.74. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81. The stock has a market cap of $667.70 million, a price-to-earnings ratio of -1.63 and a beta of 2.01.

Pacific Biosciences of California (NASDAQ:PACB) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $36.01 million for the quarter, compared to analyst estimates of $40.52 million. Pacific Biosciences of California had a negative net margin of 211.99% and a negative return on equity of 40.98%. As a group, equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current fiscal year.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.