IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Holdings in Pacific Biosciences of California, Inc. $PACB

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 148.1% in the second quarter, HoldingsChannel reports. The firm owned 789,271 shares of the biotechnology company’s stock after acquiring an additional 471,101 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Pacific Biosciences of California were worth $979,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jump Financial LLC purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $25,000. Hartline Investment Corp purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $37,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pacific Biosciences of California by 47.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 9,739 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $43,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Pacific Biosciences of California during the 1st quarter worth approximately $73,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PACB shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Wednesday, October 8th. Piper Sandler lifted their target price on shares of Pacific Biosciences of California from $1.25 to $1.50 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Finally, Wall Street Zen raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1.90.

Pacific Biosciences of California Stock Down 5.7%

Shares of NASDAQ PACB opened at $1.97 on Wednesday. Pacific Biosciences of California, Inc. has a 52-week low of $0.85 and a 52-week high of $2.72. The firm has a fifty day moving average of $1.44 and a 200-day moving average of $1.32. The stock has a market capitalization of $591.73 million, a PE ratio of -0.86 and a beta of 2.10. The company has a quick ratio of 6.02, a current ratio of 6.92 and a debt-to-equity ratio of 10.51.

Pacific Biosciences of California (NASDAQ:PACB) last announced its quarterly earnings data on Wednesday, March 29th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter. Pacific Biosciences of California had a negative net margin of 336.40% and a negative return on equity of 66.75%. The company had revenue of $3.34 million for the quarter. On average, analysts anticipate that Pacific Biosciences of California, Inc. will post -0.72 EPS for the current 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.