Barclays PLC Grows Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Barclays PLC boosted its holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 178.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,660,059 shares of the biotechnology company’s stock after acquiring an additional 1,064,909 shares during the quarter. Barclays PLC’s holdings in Pacific Biosciences of California were worth $3,038,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. PCA Investment Advisory Services Inc. raised its position in Pacific Biosciences of California by 50.0% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth $45,000. Cibc World Markets Corp purchased a new position in Pacific Biosciences of California in the fourth quarter worth $47,000. RPO LLC purchased a new position in Pacific Biosciences of California in the fourth quarter worth $58,000. Finally, Sanctuary Advisors LLC raised its position in Pacific Biosciences of California by 218.3% in the fourth quarter. Sanctuary Advisors LLC now owns 35,457 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 24,318 shares in the last quarter.

Insider Buying and Selling

In other news, insider Michele Farmer sold 24,349 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.88, for a total value of $45,776.12. Following the completion of the sale, the insider now owns 187,592 shares of the company’s stock, valued at $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on PACB shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.00 price objective on shares of Pacific Biosciences of California in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Scotiabank dropped their price target on Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a research report on Tuesday, March 25th. Finally, Piper Sandler restated a “neutral” rating and issued a $2.00 price target (down previously from $2.50) on shares of Pacific Biosciences of California in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.45.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.11 on Wednesday. Pacific Biosciences of California, Inc. has a one year low of $1.07 and a one year high of $2.72. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The company has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.67. The firm has a market capitalization of $330.62 million, a price-to-earnings ratio of -0.68 and a beta of 2.04.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The firm had revenue of $39.22 million during the quarter, compared to analyst estimates of $39.20 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. Sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current year.

Pacific Biosciences of California Profile

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.