Virtu Financial LLC Acquires Shares of 18,047 Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Virtu Financial LLC acquired a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 18,047 shares of the biotechnology company’s stock, valued at approximately $177,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Pacific Biosciences of California during the third quarter worth $59,000. Private Wealth Partners LLC acquired a new stake in shares of Pacific Biosciences of California in the 4th quarter worth $98,000. Axxcess Wealth Management LLC boosted its holdings in shares of Pacific Biosciences of California by 23.6% in the third quarter. Axxcess Wealth Management LLC now owns 18,280 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 3,494 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $168,000. Finally, Interchange Capital Partners LLC increased its stake in shares of Pacific Biosciences of California by 11.9% during the fourth quarter. Interchange Capital Partners LLC now owns 18,709 shares of the biotechnology company’s stock worth $184,000 after acquiring an additional 1,991 shares during the period.

Pacific Biosciences of California Trading Down 6.4 %

Shares of Pacific Biosciences of California stock opened at $1.47 on Monday. The business has a 50 day moving average price of $1.79 and a 200 day moving average price of $4.71. The company has a market capitalization of $400.36 million, a P/E ratio of -1.29 and a beta of 2.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 9.28 and a quick ratio of 8.36. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The business had revenue of $38.81 million for the quarter, compared to the consensus estimate of $38.78 million. Pacific Biosciences of California had a negative return on equity of 40.26% and a negative net margin of 148.13%. Sell-side analysts anticipate that Pacific Biosciences of California, Inc. will post -0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PACB shares. Scotiabank lowered their price objective on Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 18th. Barclays dropped their price objective on Pacific Biosciences of California from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on Pacific Biosciences of California in a report on Monday, June 3rd. They issued a “buy” rating and a $4.00 target price for the company. The Goldman Sachs Group cut shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $7.00 to $2.50 in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. cut shares of Pacific Biosciences of California from an “overweight” rating to a “neutral” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.38.

About Pacific Biosciences of California

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.