Gamco Investors INC. ET AL Decreases Position in Pacific Biosciences of California (NASDAQ:PACB)

Gamco Investors INC. ET AL lessened its holdings in Pacific Biosciences of California (NASDAQ:PACB) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 447,588 shares of the biotechnology company’s stock after selling 10,368 shares during the quarter. Gamco Investors INC. ET AL owned 0.29% of Pacific Biosciences of California worth $2,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Atlas Capital Advisors LLC increased its position in shares of Pacific Biosciences of California by 6.9% in the third quarter. Atlas Capital Advisors LLC now owns 77,891 shares of the biotechnology company’s stock valued at $402,000 after acquiring an additional 4,996 shares during the period. ARP Americas LP increased its position in shares of Pacific Biosciences of California by 22.6% in the third quarter. ARP Americas LP now owns 5,372,620 shares of the biotechnology company’s stock valued at $27,723,000 after acquiring an additional 989,998 shares during the period. California Public Employees Retirement System increased its position in shares of Pacific Biosciences of California by 30.0% in the third quarter. California Public Employees Retirement System now owns 253,024 shares of the biotechnology company’s stock valued at $1,306,000 after acquiring an additional 58,382 shares during the period. Quest Capital Management Inc. ADV purchased a new position in shares of Pacific Biosciences of California in the third quarter valued at about $39,000. Finally, Bourne Lent Asset Management Inc. increased its position in shares of Pacific Biosciences of California by 31.6% in the third quarter. Bourne Lent Asset Management Inc. now owns 441,650 shares of the biotechnology company’s stock valued at $2,279,000 after acquiring an additional 106,000 shares during the period. Institutional investors own 70.11% of the company’s stock.

Shares of NASDAQ PACB traded down $0.18 during midday trading on Friday, hitting $4.69. 2,543,200 shares of the company traded hands, compared to its average volume of 1,647,294. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. The stock has a 50-day moving average price of $5.09 and a 200 day moving average price of $5.94. Pacific Biosciences of California has a 12-month low of $4.37 and a 12-month high of $7.84. The firm has a market cap of $743.41 million, a P/E ratio of -6.17 and a beta of 1.68.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.04). Pacific Biosciences of California had a negative net margin of 140.68% and a negative return on equity of 106.36%. The company had revenue of $21.92 million for the quarter, compared to analysts’ expectations of $28.02 million. As a group, equities analysts expect that Pacific Biosciences of California will post -0.65 earnings per share for the current year.

A number of equities analysts have issued reports on PACB shares. ValuEngine upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Piper Jaffray Companies upgraded shares of Pacific Biosciences of California from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research report on Tuesday, October 15th. Finally, BidaskClub cut shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Pacific Biosciences of California Company Profile

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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