Pacific Biosciences of California (PACB) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in shares of Pacific Biosciences of California (NASDAQ:PACB) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,594 shares of the biotechnology company’s stock after selling 9,600 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Pacific Biosciences of California worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PACB. HighTower Advisors LLC raised its holdings in shares of Pacific Biosciences of California by 35.1% during the 2nd quarter. HighTower Advisors LLC now owns 27,785 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 7,225 shares during the period. Voya Investment Management LLC raised its holdings in shares of Pacific Biosciences of California by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 41,653 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 6,218 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in shares of Pacific Biosciences of California during the 2nd quarter valued at about $155,000. The Manufacturers Life Insurance Company raised its holdings in shares of Pacific Biosciences of California by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 70,533 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 5,145 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Pacific Biosciences of California by 225.6% during the 1st quarter. Bank of America Corp DE now owns 50,262 shares of the biotechnology company’s stock valued at $260,000 after buying an additional 34,824 shares during the period. Institutional investors own 70.51% of the company’s stock.

Shares of Pacific Biosciences of California (PACB) opened at $2.81 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.75 and a quick ratio of 3.15. Pacific Biosciences of California has a 12 month low of $2.66 and a 12 month high of $7.14.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.01. Pacific Biosciences of California had a negative return on equity of 97.50% and a negative net margin of 95.97%. The company had revenue of $23.54 million for the quarter, compared to the consensus estimate of $28.29 million. During the same quarter in the previous year, the business earned ($0.19) EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. research analysts anticipate that Pacific Biosciences of California will post -0.88 earnings per share for the current year.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. CL King lowered Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a research report on Thursday, September 28th. Finally, First Analysis lowered Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 price objective for the company. in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.27.

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Pacific Biosciences of California Company Profile

Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.

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

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