TIAA CREF Investment Management LLC Raises Position in Pacific Biosciences of California, Inc. (PACB)

TIAA CREF Investment Management LLC increased its stake in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,861 shares of the biotechnology company’s stock after buying an additional 9,062 shares during the period. TIAA CREF Investment Management LLC owned 0.23% of Pacific Biosciences of California worth $783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Teachers Advisors LLC lifted its position in Pacific Biosciences of California by 0.8% during the 2nd quarter. Teachers Advisors LLC now owns 991,284 shares of the biotechnology company’s stock worth $3,529,000 after buying an additional 7,574 shares in the last quarter. Stephens Inc. AR lifted its position in Pacific Biosciences of California by 2.3% during the 2nd quarter. Stephens Inc. AR now owns 284,991 shares of the biotechnology company’s stock valued at $1,015,000 after purchasing an additional 6,274 shares during the period. Alliancebernstein L.P. lifted its position in Pacific Biosciences of California by 45.5% during the 2nd quarter. Alliancebernstein L.P. now owns 114,200 shares of the biotechnology company’s stock valued at $407,000 after purchasing an additional 35,700 shares during the period. Kennedy Capital Management Inc. lifted its position in Pacific Biosciences of California by 52.4% during the 2nd quarter. Kennedy Capital Management Inc. now owns 1,240,391 shares of the biotechnology company’s stock valued at $4,416,000 after purchasing an additional 426,269 shares during the period. Finally, Swiss National Bank lifted its position in Pacific Biosciences of California by 21.6% during the 2nd quarter. Swiss National Bank now owns 168,646 shares of the biotechnology company’s stock valued at $600,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 66.45% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece of content on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2017/11/14/tiaa-cref-investment-management-llc-raises-position-in-pacific-biosciences-of-california-inc-pacb.html.

Pacific Biosciences of California, Inc. (NASDAQ:PACB) opened at $2.88 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, Inc. has a 52-week low of $2.66 and a 52-week high of $8.32.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly 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 for 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%. Pacific Biosciences of California’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the company posted ($0.19) EPS. equities research analysts expect that Pacific Biosciences of California, Inc. will post -0.88 earnings per share for the current year.

A number of research analysts have issued reports on PACB shares. CL King downgraded shares of Pacific Biosciences of California from a “buy” rating to a “neutral” rating and set a $6.80 target price on the stock. in a research report on Thursday, September 28th. BidaskClub downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. First Analysis downgraded shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and set a $4.00 target price on the stock. in a research report on Friday, November 3rd. Finally, Zacks Investment Research downgraded shares of Pacific Biosciences of California from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $6.27.

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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply