Jackson Square Partners LLC Sells 1,186,850 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Jackson Square Partners LLC reduced its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,109,266 shares of the biotechnology company’s stock after selling 1,186,850 shares during the quarter. Jackson Square Partners LLC owned about 1.87% of Pacific Biosciences of California worth $9,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. PCA Investment Advisory Services Inc. lifted its holdings in shares of 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 in the last quarter. Atom Investors LP acquired a new position in Pacific Biosciences of California during the third quarter worth $30,000. Atria Investments Inc lifted its stake in shares of Pacific Biosciences of California by 85.7% in the third quarter. Atria Investments Inc now owns 21,968 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 10,138 shares in the last quarter. Centiva Capital LP bought a new position in shares of Pacific Biosciences of California in the third quarter valued at $40,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Pacific Biosciences of California during the fourth quarter valued at about $45,000.

Pacific Biosciences of California Stock Up 2.3 %

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

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

Insider Transactions at Pacific Biosciences of California

In other news, insider Michele Farmer sold 24,349 shares of the stock in a transaction dated 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 approximately $352,672.96. This represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Oene Mark Van sold 34,405 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $2.03, for a total transaction of $69,842.15. Following the transaction, the insider now directly owns 1,597,454 shares of the company’s stock, valued at approximately $3,242,831.62. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

PACB has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on shares of 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. Piper Sandler restated a “neutral” rating and issued a $2.00 target price (down previously from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. Stephens reiterated an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a report on Friday, February 14th. Finally, StockNews.com upgraded Pacific Biosciences of California to a “sell” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.79.

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.