State Street Corp raised its stake in Pacific Biosciences of California (NASDAQ:PACB) by 7.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,521,245 shares of the biotechnology company’s stock after acquiring an additional 106,607 shares during the quarter. State Street Corp owned approximately 1.32% of Pacific Biosciences of California worth $5,419,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in Pacific Biosciences of California by 35.1% in 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 last quarter. Voya Investment Management LLC raised its holdings in Pacific Biosciences of California by 17.5% in 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 last quarter. Bank of America Corp DE raised its holdings in Pacific Biosciences of California by 225.6% in 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 last quarter. D.C. Capital Advisors Ltd bought a new position in Pacific Biosciences of California in the 2nd quarter valued at approximately $356,000. Finally, Rhumbline Advisers raised its holdings in Pacific Biosciences of California by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 104,614 shares of the biotechnology company’s stock valued at $372,000 after buying an additional 2,650 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

PACB has been the subject of a number of research reports. First Analysis lowered shares of 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 report on Friday, November 3rd. CL King lowered shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 price objective for the company. in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BidaskClub raised shares of Pacific Biosciences of California from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.27.

Shares of Pacific Biosciences of California (PACB) opened at $2.99 on Tuesday. 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 52-week low of $2.66 and a 52-week high of $7.14.

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

COPYRIGHT VIOLATION WARNING: This article was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://theolympiareport.com/2017/12/05/state-street-corp-has-5-42-million-holdings-in-pacific-biosciences-of-california-pacb.html.

Pacific Biosciences of California 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.

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

Receive News & Ratings for Pacific Biosciences of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California and related companies with Analyst Ratings Network's FREE daily email newsletter.