Dimensional Fund Advisors LP Has $1.19 Million Stock Position in Pacific Biosciences of California, Inc. $PACB

Dimensional Fund Advisors LP lifted its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 177.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 899,550 shares of the biotechnology company’s stock after buying an additional 575,801 shares during the period. Dimensional Fund Advisors LP’s holdings in Pacific Biosciences of California were worth $1,187,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UBS Group AG grew its position in shares of Pacific Biosciences of California by 111.8% in the 4th quarter. UBS Group AG now owns 3,171,546 shares of the biotechnology company’s stock valued at $5,931,000 after purchasing an additional 1,674,320 shares during the period. Casdin Capital LLC raised its holdings in Pacific Biosciences of California by 483.6% during the 4th quarter. Casdin Capital LLC now owns 4,223,767 shares of the biotechnology company’s stock worth $7,898,000 after buying an additional 3,500,000 shares during the period. Private Wealth Partners LLC acquired a new stake in Pacific Biosciences of California during the 4th quarter worth approximately $47,000. SG Americas Securities LLC lifted its stake in Pacific Biosciences of California by 42.6% in the fourth quarter. SG Americas Securities LLC now owns 100,751 shares of the biotechnology company’s stock valued at $188,000 after buying an additional 30,078 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Pacific Biosciences of California in the third quarter valued at approximately $38,000.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $1.15 on Friday. Pacific Biosciences of California, Inc. has a 12 month low of $1.07 and a 12 month high of $2.73. The firm’s 50 day moving average is $1.42 and its 200-day moving average is $1.51. The stock has a market capitalization of $357.45 million, a PE ratio of -2.67 and a beta of 2.31.

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

Wall Street Analyst Weigh In

PACB has been the subject of several research reports. Wall Street Zen downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research lowered shares of Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Barclays upped their target price on shares of Pacific Biosciences of California from $1.00 to $1.50 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised Pacific Biosciences of California from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $1.83.

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.