Banque Cantonale Vaudoise Increases Stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Posted by on Jul 5th, 2023

Banque Cantonale Vaudoise raised its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB – Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,046 shares of the biotechnology company’s stock after buying an additional 2,756 shares during the period. Banque Cantonale Vaudoise’s holdings in Pacific Biosciences of California were worth $452,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PACB. Continental Investors Services Inc. bought a new position in shares of Pacific Biosciences of California in the 3rd quarter worth about $318,000. Prelude Capital Management LLC purchased a new position in shares of Pacific Biosciences of California in the third quarter worth approximately $516,000. Mirador Capital Partners LP purchased a new position in shares of Pacific Biosciences of California in the fourth quarter worth approximately $131,000. Granahan Investment Management LLC boosted its holdings in shares of Pacific Biosciences of California by 17.9% in the fourth quarter. Granahan Investment Management LLC now owns 677,158 shares of the biotechnology company’s stock worth $5,539,000 after buying an additional 102,969 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in Pacific Biosciences of California by 583.4% during the 3rd quarter. Trexquant Investment LP now owns 453,524 shares of the biotechnology company’s stock worth $2,633,000 after acquiring an additional 387,164 shares during the period.

Insider Activity at Pacific Biosciences of California

In other Pacific Biosciences of California news, insider Michele Farmer sold 5,165 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $12.59, for a total value of $65,027.35. Following the sale, the insider now owns 107,577 shares in the company, valued at approximately $1,354,394.43. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. SpectralCast restated a “maintains” rating on shares of Pacific Biosciences of California in a research note on Wednesday, May 3rd. Piper Sandler raised their target price on shares of Pacific Biosciences of California from $10.00 to $13.00 in a report on Monday, May 8th. TD Cowen raised shares of Pacific Biosciences of California from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $15.00 in a research note on Friday, March 31st. KGI Securities initiated coverage on shares of Pacific Biosciences of California in a research note on Wednesday, June 7th. They set an “outperform” rating for the company. Finally, Cantor Fitzgerald boosted their target price on shares of Pacific Biosciences of California from $12.00 to $13.00 in a research note on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Pacific Biosciences of California presently has a consensus rating of “Moderate Buy” and an average price target of $13.22.

Pacific Biosciences of California Stock Down 3.1 %

Shares of Pacific Biosciences of California stock opened at $12.89 on Wednesday. Pacific Biosciences of California, Inc. has a one year low of $3.89 and a one year high of $14.30. The company has a current ratio of 3.69, a quick ratio of 3.46 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $12.56 and a two-hundred day simple moving average of $10.89.

Pacific Biosciences of California (NASDAQ:PACB – Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. The firm had revenue of $38.90 million for the quarter, compared to the consensus estimate of $34.38 million. Pacific Biosciences of California had a negative net margin of 239.32% and a negative return on equity of 47.46%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.37) earnings per share. On average, equities research analysts forecast that Pacific Biosciences of California, Inc. will post -1.24 earnings per share for the current fiscal year.

Pacific Biosciences of California Profile

(Free Report)

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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