Pacific Biosciences of California, Inc. (NASDAQ:PACB) Stake Raised by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC grew its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 150.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,000,000 shares of the biotechnology company’s stock after acquiring an additional 1,200,000 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Pacific Biosciences of California were worth $3,660,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PACB shares. 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 report on Thursday, February 20th. StockNews.com raised Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Stephens reissued an “overweight” rating and set a $2.50 price objective on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, The Goldman Sachs Group lowered their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.79.

Insider Activity at Pacific Biosciences of California

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

Pacific Biosciences of California Price Performance

Pacific Biosciences of California stock opened at $1.22 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The company has a market capitalization of $334.11 million, a PE ratio of -0.74 and a beta of 1.86. Pacific Biosciences of California, Inc. has a one year low of $1.16 and a one year high of $4.10. The business has a 50 day simple moving average of $1.57 and a 200 day simple moving average of $1.78.

Pacific Biosciences of California (NASDAQ:PACB) last posted its earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $39.22 million during the quarter, compared to the consensus estimate 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 quarter last year, the company earned ($0.27) EPS. On average, sell-side analysts forecast that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal 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.