Mirador Capital Partners LP Increases Stock Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirador Capital Partners LP boosted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 506.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,373 shares of the biotechnology company’s stock after acquiring an additional 265,835 shares during the period. Mirador Capital Partners LP’s holdings in Pacific Biosciences of California were worth $1,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ARK Investment Management LLC lifted its position in Pacific Biosciences of California by 15.7% during the fourth quarter. ARK Investment Management LLC now owns 34,504,273 shares of the biotechnology company’s stock valued at $338,487,000 after acquiring an additional 4,681,833 shares during the last quarter. Vanguard Group Inc. lifted its position in Pacific Biosciences of California by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 26,789,552 shares of the biotechnology company’s stock valued at $262,806,000 after acquiring an additional 3,514,792 shares during the last quarter. Jackson Square Partners LLC lifted its position in Pacific Biosciences of California by 40.0% during the fourth quarter. Jackson Square Partners LLC now owns 9,704,766 shares of the biotechnology company’s stock valued at $95,204,000 after acquiring an additional 2,770,901 shares during the last quarter. Bellevue Group AG lifted its position in Pacific Biosciences of California by 1.0% during the fourth quarter. Bellevue Group AG now owns 7,317,128 shares of the biotechnology company’s stock valued at $71,781,000 after acquiring an additional 71,940 shares during the last quarter. Finally, FMR LLC lifted its position in Pacific Biosciences of California by 23.9% during the third quarter. FMR LLC now owns 4,622,920 shares of the biotechnology company’s stock valued at $38,601,000 after acquiring an additional 892,145 shares during the last quarter.

Pacific Biosciences of California Stock Down 1.1 %

NASDAQ PACB traded down $0.02 during mid-day trading on Monday, reaching $1.36. 910,163 shares of the stock were exchanged, compared to its average volume of 9,715,395. The business’s 50 day moving average is $1.76 and its 200-day moving average is $4.46. Pacific Biosciences of California, Inc. has a 1 year low of $1.25 and a 1 year high of $14.55. The company has a debt-to-equity ratio of 1.38, a quick ratio of 8.36 and a current ratio of 9.28.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). Pacific Biosciences of California had a negative net margin of 148.13% and a negative return on equity of 40.26%. The firm had revenue of $38.81 million for the quarter, compared to the consensus estimate of $38.78 million. On average, equities analysts forecast that Pacific Biosciences of California, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

PACB has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Pacific Biosciences of California in a research note on Monday, June 3rd. They set a “buy” rating and a $4.00 price target on the stock. Morgan Stanley cut their price target on shares of Pacific Biosciences of California from $10.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Scotiabank cut their price target on shares of Pacific Biosciences of California from $15.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 18th. Finally, TD Cowen cut their price target on shares of Pacific Biosciences of California from $12.00 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.