ARK Investment Management LLC Has $338.49 Million Stock Holdings in Pacific Biosciences of California, Inc. (NASDAQ:PACB)

ARK Investment Management LLC lifted its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,504,273 shares of the biotechnology company’s stock after acquiring an additional 4,681,833 shares during the period. Pacific Biosciences of California makes up approximately 2.0% of ARK Investment Management LLC’s holdings, making the stock its 17th biggest holding. ARK Investment Management LLC owned 12.90% of Pacific Biosciences of California worth $338,487,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. increased its stake in Pacific Biosciences of California by 4.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,816 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 925 shares in the last quarter. Ambassador Advisors LLC grew its stake in shares of Pacific Biosciences of California by 5.6% during the 2nd quarter. Ambassador Advisors LLC now owns 19,000 shares of the biotechnology company’s stock worth $219,000 after acquiring an additional 1,000 shares in the last quarter. Amalgamated Bank grew its stake in shares of Pacific Biosciences of California by 3.7% during the 4th quarter. Amalgamated Bank now owns 29,945 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 1,057 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Pacific Biosciences of California by 6.6% during the 1st quarter. Prudential Financial Inc. now owns 17,212 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Pacific Biosciences of California by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,606 shares of the biotechnology company’s stock worth $285,000 after acquiring an additional 1,238 shares in the last quarter.

Pacific Biosciences of California Stock Performance

Shares of NASDAQ PACB opened at $3.72 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.21. Pacific Biosciences of California, Inc. has a 12 month low of $3.45 and a 12 month high of $14.55. The stock has a 50-day moving average price of $5.45 and a two-hundred day moving average price of $7.36.

Pacific Biosciences of California (NASDAQ:PACB) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. Pacific Biosciences of California had a negative return on equity of 40.23% and a negative net margin of 152.97%. The company had revenue of $58.36 million during the quarter, compared to the consensus estimate of $57.96 million. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 113.3% compared to the same quarter last year. As a group, equities research analysts expect that Pacific Biosciences of California, Inc. will post -1.01 EPS for the current year.

Insider Activity

In other news, insider Oene Mark Van sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $5.96, for a total value of $200,017.60. Following the completion of the transaction, the insider now owns 876,611 shares of the company’s stock, valued at $5,224,601.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David W. Meline bought 40,000 shares of Pacific Biosciences of California stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $4.40 per share, for a total transaction of $176,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $176,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Oene Mark Van sold 33,560 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $5.96, for a total transaction of $200,017.60. Following the transaction, the insider now owns 876,611 shares in the company, valued at approximately $5,224,601.56. The disclosure for this sale can be found here. Insiders sold 68,371 shares of company stock valued at $459,806 over the last quarter. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PACB. Guggenheim started coverage on shares of Pacific Biosciences of California in a report on Thursday, December 14th. They set a “neutral” rating on the stock. Stephens started coverage on shares of Pacific Biosciences of California in a research report on Thursday, December 14th. They set an “overweight” rating and a $11.00 price objective for the company. StockNews.com raised shares of Pacific Biosciences of California to a “sell” rating in a research report on Wednesday, March 20th. Wolfe Research started coverage on shares of Pacific Biosciences of California in a research report on Wednesday, December 13th. They set a “peer perform” rating for the company. Finally, UBS Group reduced their price objective on shares of Pacific Biosciences of California from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.90.

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.