Squarepoint Ops LLC Takes Position in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Squarepoint Ops LLC bought a new position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 524,608 shares of the biotechnology company’s stock, valued at approximately $719,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Simplicity Wealth LLC acquired a new stake in shares of Pacific Biosciences of California in the second quarter worth $29,000. Headlands Technologies LLC purchased a new stake in Pacific Biosciences of California during the 1st quarter worth $32,000. Impact Partnership Wealth LLC acquired a new stake in Pacific Biosciences of California in the 2nd quarter valued at $37,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Pacific Biosciences of California in the first quarter valued at about $38,000. Finally, SG Americas Securities LLC lifted its stake in shares of Pacific Biosciences of California by 96.6% during the second quarter. SG Americas Securities LLC now owns 42,078 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 20,677 shares in the last quarter.

Insider Buying and Selling at Pacific Biosciences of California

In other news, insider Jeff Eidel sold 26,760 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Oene Mark Van sold 38,011 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $1.66, for a total transaction of $63,098.26. Following the transaction, the insider now owns 1,630,815 shares in the company, valued at $2,707,152.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeff Eidel sold 26,760 shares of Pacific Biosciences of California stock in a transaction on Monday, August 19th. The shares were sold at an average price of $1.59, for a total transaction of $42,548.40. Following the completion of the sale, the insider now directly owns 869,730 shares of the company’s stock, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Pacific Biosciences of California Price Performance

NASDAQ PACB opened at $1.70 on Tuesday. The company has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.89. Pacific Biosciences of California, Inc. has a 52-week low of $1.16 and a 52-week high of $10.65. The firm has a market capitalization of $463.01 million, a price-to-earnings ratio of -1.49 and a beta of 2.05. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.01 and a quick ratio of 7.14.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Pacific Biosciences of California had a negative net margin of 211.99% and a negative return on equity of 40.98%. The company had revenue of $36.01 million during the quarter, compared to analyst estimates of $40.52 million. Equities research analysts predict that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PACB has been the topic of several analyst reports. StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a report on Tuesday, August 13th. Scotiabank lowered their price target on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a report on Wednesday, August 28th. Canaccord Genuity Group cut their price objective on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Morgan Stanley cut their price target on Pacific Biosciences of California from $4.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $3.50 price objective on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.50.

Pacific Biosciences of California 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.