California Public Employees Retirement System Acquires 249,900 Shares of Pacific Biosciences of California, Inc. (PACB)

California Public Employees Retirement System increased its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 120.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 457,400 shares of the biotechnology company’s stock after buying an additional 249,900 shares during the quarter. California Public Employees Retirement System owned 0.47% of Pacific Biosciences of California worth $1,628,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Pacific Biosciences of California by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 407,898 shares of the biotechnology company’s stock valued at $2,108,000 after acquiring an additional 17,794 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Pacific Biosciences of California in the 1st quarter valued at about $116,000. Parametric Portfolio Associates LLC lifted its position in Pacific Biosciences of California by 55.4% during the first quarter. Parametric Portfolio Associates LLC now owns 184,755 shares of the biotechnology company’s stock worth $955,000 after acquiring an additional 65,899 shares during the last quarter. American International Group Inc. lifted its position in Pacific Biosciences of California by 7.4% during the first quarter. American International Group Inc. now owns 47,080 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 3,258 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in Pacific Biosciences of California by 19.0% during the first quarter. Teachers Advisors LLC now owns 983,710 shares of the biotechnology company’s stock worth $5,086,000 after acquiring an additional 157,145 shares during the last quarter. 66.45% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on PACB shares. First Analysis downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price target for the company. in a research report on Friday, November 3rd. CL King cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price on the stock. in a research note on Thursday, September 28th. 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. Finally, Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.27.

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Pacific Biosciences of California, Inc. (PACB) opened at $2.88 on Wednesday. Pacific Biosciences of California, Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.32. The company has a current ratio of 3.75, a quick ratio of 3.15 and a debt-to-equity ratio of 0.10.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative net margin of 95.97% and a negative return on equity of 97.50%. The business had revenue of $23.54 million during the quarter, compared to the consensus estimate of $28.29 million. During the same period in the prior year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. sell-side analysts forecast that Pacific Biosciences of California, Inc. will post -0.88 earnings per share for the current year.

Pacific Biosciences of California Company Profile

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.

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

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