Cubist Systematic Strategies LLC Invests $28,000 in Pacific Biosciences of California (NASDAQ:PACB)

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Cubist Systematic Strategies LLC purchased a new position in shares of Pacific Biosciences of California (NASDAQ:PACB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 4,600 shares of the biotechnology company’s stock, valued at approximately $28,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. acquired a new stake in shares of Pacific Biosciences of California during the second quarter worth approximately $1,089,000. TIG Advisors LLC acquired a new position in Pacific Biosciences of California in the second quarter worth $1,809,000. Morgan Stanley boosted its holdings in Pacific Biosciences of California by 95.8% in the second quarter. Morgan Stanley now owns 441,450 shares of the biotechnology company’s stock worth $2,671,000 after purchasing an additional 215,976 shares during the period. Man Group plc boosted its holdings in Pacific Biosciences of California by 123.2% in the second quarter. Man Group plc now owns 1,538,409 shares of the biotechnology company’s stock worth $9,308,000 after purchasing an additional 849,048 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its holdings in Pacific Biosciences of California by 485.0% in the second quarter. Polar Asset Management Partners Inc. now owns 475,000 shares of the biotechnology company’s stock worth $2,874,000 after purchasing an additional 393,800 shares during the period. 69.69% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. ValuEngine raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a report on Thursday. Piper Jaffray Companies raised shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a report on Tuesday, October 15th. Finally, BidaskClub downgraded shares of Pacific Biosciences of California from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Pacific Biosciences of California currently has an average rating of “Hold” and an average target price of $8.00.

Pacific Biosciences of California stock opened at $5.46 on Friday. The company has a market cap of $833.66 million, a PE ratio of -7.18 and a beta of 1.76. The company has a fifty day moving average price of $5.36 and a two-hundred day moving average price of $6.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.00 and a quick ratio of 1.65. Pacific Biosciences of California has a 12 month low of $3.90 and a 12 month high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $24.62 million during the quarter, compared to the consensus estimate of $22.27 million. Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. Equities research analysts anticipate that Pacific Biosciences of California will post -0.64 earnings per share for the current year.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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

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