Lombard Odier Asset Management USA Corp Raises Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Lombard Odier Asset Management USA Corp raised its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 27.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 94,557 shares of the biotechnology company’s stock after buying an additional 20,092 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Pacific Biosciences of California were worth $130,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its position in shares of Pacific Biosciences of California by 4.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 119,936 shares of the biotechnology company’s stock worth $164,000 after buying an additional 5,000 shares during the last quarter. Swiss National Bank grew its holdings in Pacific Biosciences of California by 1.3% in the first quarter. Swiss National Bank now owns 475,246 shares of the biotechnology company’s stock worth $1,782,000 after purchasing an additional 6,200 shares during the last quarter. Green Alpha Advisors LLC increased its position in shares of Pacific Biosciences of California by 20.5% during the first quarter. Green Alpha Advisors LLC now owns 49,947 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 8,512 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Pacific Biosciences of California during the 1st quarter valued at $32,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Pacific Biosciences of California by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 235,308 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 9,516 shares during the last quarter.

Wall Street Analysts Forecast Growth

PACB has been the topic of several recent analyst reports. Scotiabank reduced their target price on Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 28th. Jefferies Financial Group started coverage on shares of Pacific Biosciences of California in a report on Monday, June 3rd. They set a “buy” rating and a $4.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $3.50 target price on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.50.

Pacific Biosciences of California Stock Performance

Shares of PACB stock opened at $1.74 on Tuesday. The stock has a market cap of $474.20 million, a PE ratio of -1.53 and a beta of 2.03. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $10.65. The business has a 50-day simple moving average of $1.68 and a 200-day simple moving average of $2.05. The company has a quick ratio of 7.14, a current ratio of 8.01 and a debt-to-equity ratio of 1.81.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The business had revenue of $36.01 million for the quarter, compared to analyst estimates of $40.52 million. Pacific Biosciences of California had a negative return on equity of 40.98% and a negative net margin of 211.99%. On average, equities analysts expect that Pacific Biosciences of California, Inc. will post -0.95 EPS for the current year.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Oene Mark Van sold 38,011 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the transaction, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the transaction, the insider now owns 869,730 shares in the company, valued at $1,382,870.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Oene Mark Van sold 38,011 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $1.66, for a total value of $63,098.26. Following the completion of the sale, the insider now owns 1,630,815 shares of the company’s stock, valued at $2,707,152.90. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

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.