Morgan Stanley raised its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 129.0% during the first quarter, Holdings Channel reports. The firm owned 773,519 shares of the biotechnology company’s stock after buying an additional 435,774 shares during the period. Morgan Stanley’s holdings in Pacific Biosciences of California were worth $3,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PACB. Bank of Montreal Can boosted its stake in Pacific Biosciences of California by 601.5% in the first quarter. Bank of Montreal Can now owns 41,359 shares of the biotechnology company’s stock worth $214,000 after buying an additional 35,463 shares during the period. Acadian Asset Management LLC acquired a new stake in Pacific Biosciences of California during the first quarter worth about $368,000. SG Americas Securities LLC boosted its stake in Pacific Biosciences of California by 38.1% in the first quarter. SG Americas Securities LLC now owns 89,683 shares of the biotechnology company’s stock worth $464,000 after buying an additional 24,730 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Pacific Biosciences of California by 55.4% in the first quarter. Parametric Portfolio Associates LLC now owns 184,755 shares of the biotechnology company’s stock worth $955,000 after buying an additional 65,899 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Pacific Biosciences of California by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 826,565 shares of the biotechnology company’s stock worth $3,141,000 after buying an additional 8,774 shares during the period. Hedge funds and other institutional investors own 54.62% of the company’s stock.

Pacific Biosciences of California, Inc. (NASDAQ PACB) traded up 1.047% during trading on Monday, hitting $4.345. 81,143 shares of the stock were exchanged. The stock’s market cap is $502.24 million. Pacific Biosciences of California, Inc. has a 1-year low of $3.08 and a 1-year high of $9.50. The firm’s 50 day moving average price is $3.56 and its 200-day moving average price is $4.25.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.24) by $0.02. The business had revenue of $20.07 million during the quarter, compared to analyst estimates of $23.34 million. Pacific Biosciences of California had a negative net margin of 89.67% and a negative return on equity of 93.31%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned ($0.21) earnings per share. On average, analysts anticipate that Pacific Biosciences of California, Inc. will post ($0.90) EPS for the current year.

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PACB has been the subject of a number of analyst reports. ValuEngine cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th. BidaskClub cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, Zacks Investment Research cut shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.00.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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