Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Bought by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lifted its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,346,480 shares of the biotechnology company’s stock after buying an additional 1,038,600 shares during the period. Edmond DE Rothschild Holding S.A. owned approximately 7.79% of Pacific Biosciences of California worth $39,064,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in Pacific Biosciences of California in the third quarter valued at $190,000. Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Biosciences of California by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,040,303 shares of the biotechnology company’s stock valued at $3,469,000 after purchasing an additional 82,807 shares during the period. FMR LLC grew its stake in Pacific Biosciences of California by 641.3% during the 3rd quarter. FMR LLC now owns 408,151 shares of the biotechnology company’s stock worth $694,000 after buying an additional 353,092 shares during the last quarter. Paloma Partners Management Co acquired a new position in Pacific Biosciences of California during the third quarter worth approximately $63,000. Finally, Atom Investors LP purchased a new stake in Pacific Biosciences of California in the third quarter valued at approximately $30,000.

Insiders Place Their Bets

In related news, insider Michele Farmer sold 24,349 shares of Pacific Biosciences of California stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $1.88, for a total transaction of $45,776.12. Following the completion of the transaction, the insider now directly owns 187,592 shares in the company, valued at $352,672.96. The trade was a 11.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oene Mark Van sold 34,405 shares of the company’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 value of $69,842.15. Following the completion of the sale, the insider now directly owns 1,597,454 shares in the company, valued at approximately $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 currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PACB shares. Scotiabank cut their target price on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group reduced their price objective on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Stephens reiterated an “overweight” rating and set a $2.50 price target on shares of Pacific Biosciences of California in a research note on Friday, February 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $2.00 price target (down from $2.50) on shares of Pacific Biosciences of California in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.46.

Pacific Biosciences of California Stock Performance

PACB opened at $1.14 on Monday. The stock’s 50 day simple moving average is $1.47 and its 200 day simple moving average is $1.76. The stock has a market cap of $339.55 million, a P/E ratio of -0.70 and a beta of 1.86. Pacific Biosciences of California, Inc. has a 1-year low of $1.09 and a 1-year high of $3.85. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings results on Thursday, February 13th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $39.20 million. During the same quarter last year, the business posted ($0.27) earnings per share. As a group, equities analysts anticipate 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.