Pacific Biosciences of California, Inc. $PACB Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lowered its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 38.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,366,200 shares of the biotechnology company’s stock after selling 8,488,980 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Pacific Biosciences of California were worth $16,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Pacific Biosciences of California by 10.1% during the 2nd quarter. Cetera Investment Advisers now owns 104,725 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 9,617 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 9,739 shares during the period. Prudential Financial Inc. increased its stake in Pacific Biosciences of California by 73.0% in the 2nd quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 15,062 shares in the last quarter. Federated Hermes Inc. raised its holdings in Pacific Biosciences of California by 3.8% during the first quarter. Federated Hermes Inc. now owns 465,258 shares of the biotechnology company’s stock worth $549,000 after purchasing an additional 16,960 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Pacific Biosciences of California by 4.8% during the first quarter. Rhumbline Advisers now owns 438,775 shares of the biotechnology company’s stock worth $518,000 after purchasing an additional 20,153 shares during the last quarter.

Pacific Biosciences of California Stock Up 12.6%

PACB opened at $2.50 on Tuesday. The firm has a market cap of $754.77 million, a P/E ratio of -1.09 and a beta of 2.30. The business’s fifty day simple moving average is $1.67 and its 200 day simple moving average is $1.42. Pacific Biosciences of California, Inc. has a 52 week low of $0.85 and a 52 week high of $2.53. The company has a quick ratio of 6.02, a current ratio of 6.92 and a debt-to-equity ratio of 10.51.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on PACB shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a report on Wednesday, October 8th. Wall Street Zen raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler raised their target price on shares of Pacific Biosciences of California from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Finally, Stephens upped their price target on shares of Pacific Biosciences of California from $1.80 to $2.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.00.

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.