Toronto Dominion Bank Invests $1.56 Million in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Toronto Dominion Bank purchased a new position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 850,000 shares of the biotechnology company’s stock, valued at approximately $1,556,000. Toronto Dominion Bank owned 0.31% of Pacific Biosciences of California at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PACB. Barclays PLC raised its holdings in shares of Pacific Biosciences of California by 178.9% in the 4th quarter. Barclays PLC now owns 1,660,059 shares of the biotechnology company’s stock worth $3,038,000 after purchasing an additional 1,064,909 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of Pacific Biosciences of California by 7.9% in the 4th quarter. ARK Investment Management LLC now owns 36,044,362 shares of the biotechnology company’s stock worth $65,961,000 after purchasing an additional 2,637,961 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Pacific Biosciences of California in the 4th quarter worth approximately $8,962,000. New York State Common Retirement Fund raised its holdings in shares of Pacific Biosciences of California by 299.2% in the 4th quarter. New York State Common Retirement Fund now owns 84,725 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 63,500 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Pacific Biosciences of California by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 564,507 shares of the biotechnology company’s stock worth $960,000 after purchasing an additional 45,957 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stephens reiterated an “overweight” rating and issued a $1.80 target price on shares of Pacific Biosciences of California in a report on Thursday, May 15th. The Goldman Sachs Group dropped their target price on shares of Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Wall Street Zen upgraded shares of Pacific Biosciences of California to a “sell” rating in a report on Tuesday, February 25th. Canaccord Genuity Group restated a “buy” rating and set a $3.00 price target on shares of Pacific Biosciences of California in a report on Thursday, April 10th. Finally, Piper Sandler cut their price target on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating on the stock in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Pacific Biosciences of California currently has a consensus rating of “Hold” and an average price target of $2.34.

Pacific Biosciences of California Stock Performance

Shares of PACB opened at $0.92 on Friday. The company’s 50 day moving average price is $1.18 and its 200 day moving average price is $1.56. Pacific Biosciences of California, Inc. has a 52 week low of $0.91 and a 52 week high of $2.72. The company has a market capitalization of $276.62 million, a PE ratio of -0.56 and a beta of 2.19. The company has a debt-to-equity ratio of 1.97, a quick ratio of 8.64 and a current ratio of 9.74.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. Pacific Biosciences of California had a negative net margin of 200.40% and a negative return on equity of 42.89%. The firm had revenue of $37.15 million for the quarter, compared to the consensus estimate of $36.90 million. During the same period in the previous year, the firm posted ($0.26) earnings per share. Research analysts expect that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current fiscal year.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing solution to resolve genetically complex problems. The company provides sequencing systems; consumable products, including single molecule real-time (SMRT) technology; long-red sequencing; and various reagent kits designed for specific workflow, such as preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases.