Mirador Capital Partners LP Buys 289,148 Shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB)

Mirador Capital Partners LP raised its stake in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 127.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 515,734 shares of the biotechnology company’s stock after acquiring an additional 289,148 shares during the quarter. Mirador Capital Partners LP owned about 0.17% of Pacific Biosciences of California worth $609,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of Pacific Biosciences of California by 4.8% in the first quarter. Rhumbline Advisers now owns 438,775 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 20,153 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Pacific Biosciences of California by 18.4% in the 1st quarter. AdvisorNet Financial Inc now owns 76,664 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 11,895 shares in the last quarter. Toronto Dominion Bank bought a new position in Pacific Biosciences of California during the 4th quarter worth $1,556,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Pacific Biosciences of California by 7.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 551,904 shares of the biotechnology company’s stock worth $1,010,000 after buying an additional 38,103 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Pacific Biosciences of California by 19.8% during the fourth quarter. Two Sigma Advisers LP now owns 167,900 shares of the biotechnology company’s stock worth $307,000 after buying an additional 27,800 shares in the last quarter.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ:PACB opened at $0.99 on Friday. Pacific Biosciences of California, Inc. has a 1 year low of $0.85 and a 1 year high of $2.72. The stock has a market capitalization of $296.33 million, a price-to-earnings ratio of -0.60 and a beta of 2.19. The company has a debt-to-equity ratio of 1.97, a current ratio of 9.74 and a quick ratio of 8.64. The company’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.51.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PACB shares. Wall Street Zen raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Tuesday, February 25th. Piper Sandler cut their price objective on shares of Pacific Biosciences of California from $2.00 to $1.25 and set a “neutral” rating for the company in a report on Thursday, May 15th. Stephens reaffirmed an “overweight” rating and set a $1.80 target price on shares of Pacific Biosciences of California in a report on Thursday, May 15th. Scotiabank dropped their price target on shares of Pacific Biosciences of California from $6.00 to $2.00 and set a “sector outperform” rating for the company in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group reduced their price target on Pacific Biosciences of California from $1.75 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.34.

Pacific Biosciences of California Company 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.