Jackson Square Partners LLC Cuts Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Jackson Square Partners LLC reduced its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,109,266 shares of the biotechnology company’s stock after selling 1,186,850 shares during the quarter. Jackson Square Partners LLC’s holdings in Pacific Biosciences of California were worth $9,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PACB. PCA Investment Advisory Services Inc. increased its position in shares of Pacific Biosciences of California by 50.0% during the 4th quarter. PCA Investment Advisory Services Inc. now owns 15,000 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Atom Investors LP bought a new position in Pacific Biosciences of California during the third quarter valued at approximately $30,000. Atria Investments Inc raised its stake in shares of Pacific Biosciences of California by 85.7% during the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 10,138 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Pacific Biosciences of California in the 3rd quarter worth approximately $40,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Pacific Biosciences of California in the 4th quarter valued at $45,000.

Pacific Biosciences of California Stock Performance

Pacific Biosciences of California stock opened at $1.33 on Tuesday. Pacific Biosciences of California, Inc. has a fifty-two week low of $1.16 and a fifty-two week high of $3.89. The stock’s 50 day simple moving average is $1.51 and its two-hundred day simple moving average is $1.77. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74. The stock has a market cap of $396.14 million, a price-to-earnings ratio of -0.81 and a beta of 1.86.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $39.22 million for the quarter, compared to analysts’ expectations of $39.20 million. Pacific Biosciences of California had a negative return on equity of 42.89% and a negative net margin of 200.40%. During the same period in the prior year, the firm earned ($0.27) earnings per share. As a group, analysts expect that Pacific Biosciences of California, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Stephens reissued an “overweight” rating and issued a $2.50 target price on shares of Pacific Biosciences of California in a research note on Friday, February 14th. The Goldman Sachs Group reduced their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $2.00 price objective (down previously from $2.50) on shares of Pacific Biosciences of California in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.79.

Insider Buying and Selling

In related news, insider Michele Farmer sold 24,349 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total value of $45,776.12. Following the sale, the insider now owns 187,592 shares in the company, valued at $352,672.96. This represents a 11.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of Pacific Biosciences of California stock in a transaction on Friday, January 10th. The shares were sold at an average price of $2.03, for a total value of $69,842.15. Following the transaction, the insider now owns 1,597,454 shares of the company’s stock, valued at $3,242,831.62. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. 2.40% 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.