Vestmark Advisory Solutions Inc. Grows Stake in Pacific Biosciences of California, Inc. $PACB

Vestmark Advisory Solutions Inc. grew its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 89.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,294,186 shares of the biotechnology company’s stock after acquiring an additional 612,760 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Pacific Biosciences of California were worth $1,605,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Jump Financial LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter valued at about $25,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pacific Biosciences of California by 47.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after buying an additional 9,739 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Pacific Biosciences of California in the first quarter worth approximately $43,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Pacific Biosciences of California during the first quarter valued at approximately $73,000. Finally, Wealthfront Advisers LLC increased its position in shares of Pacific Biosciences of California by 137.3% during the first quarter. Wealthfront Advisers LLC now owns 89,576 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 51,825 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PACB shares. Piper Sandler boosted their price objective on shares of Pacific Biosciences of California from $1.25 to $1.50 and gave the stock a “neutral” rating in a report on Monday, August 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and an average target price of $1.90.

Pacific Biosciences of California Trading Down 1.1%

NASDAQ:PACB opened at $1.76 on Monday. The company has a market cap of $528.65 million, a PE ratio of -0.77 and a beta of 2.30. The company has a current ratio of 6.92, a quick ratio of 6.02 and a debt-to-equity ratio of 10.51. The company has a 50 day simple moving average of $1.55 and a two-hundred day simple moving average of $1.36. Pacific Biosciences of California, Inc. has a 12 month low of $0.85 and a 12 month high of $2.66.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings results on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. Pacific Biosciences of California had a negative return on equity of 66.75% and a negative net margin of 336.40%.The firm had revenue of $3.34 million during the quarter. Research analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current year.

Pacific Biosciences of California Company 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.