First Trust Direct Indexing L.P. Sells 31,509 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

First Trust Direct Indexing L.P. trimmed its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 58.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,816 shares of the biotechnology company’s stock after selling 31,509 shares during the period. First Trust Direct Indexing L.P.’s holdings in Pacific Biosciences of California were worth $39,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC raised its holdings in 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 purchasing an additional 5,000 shares in the last quarter. Swiss National Bank raised its stake 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 buying an additional 6,200 shares in the last quarter. Creative Planning lifted its holdings in Pacific Biosciences of California by 30.8% in the third quarter. Creative Planning now owns 32,409 shares of the biotechnology company’s stock worth $55,000 after buying an additional 7,629 shares during the period. Headlands Technologies LLC bought a new stake in Pacific Biosciences of California during the 1st quarter valued at approximately $32,000. Finally, Daiwa Securities Group Inc. grew 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 worth $322,000 after acquiring an additional 9,516 shares during the period.

Analysts Set New Price Targets

PACB has been the subject of several recent research reports. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, August 13th. Morgan Stanley dropped their price objective on shares of 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. Scotiabank decreased their target price on shares of Pacific Biosciences of California from $8.00 to $7.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 28th. Canaccord Genuity Group lowered their target price on shares of Pacific Biosciences of California from $3.50 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $3.50 price target on shares of Pacific Biosciences of California in a research note on Thursday, August 8th. One research 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 MarketBeat.com, Pacific Biosciences of California presently has an average rating of “Hold” and a consensus price target of $4.50.

Insider Buying and Selling

In other Pacific Biosciences of California news, insider Jeff Eidel sold 26,760 shares of the business’s 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 in the company, valued at approximately $1,382,870.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Oene Mark Van sold 38,011 shares of the 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 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 Securities & Exchange Commission, which is available at this link. Also, insider Jeff Eidel sold 26,760 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 869,730 shares of the company’s stock, valued at $1,382,870.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Pacific Biosciences of California Stock Up 3.9 %

Shares of NASDAQ:PACB opened at $2.65 on Thursday. Pacific Biosciences of California, Inc. has a 1 year low of $1.16 and a 1 year high of $10.65. The stock’s fifty day moving average price is $1.79 and its 200-day moving average price is $1.73. 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 announced its quarterly 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 firm had revenue of $36.01 million for the quarter, compared to the consensus estimate of $40.52 million. As a group, research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.95 earnings per share for the current year.

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.