Koss Olinger Consulting LLC Has $4.09 Million Stake in Pacific Biosciences of California, Inc. $PACB

Koss Olinger Consulting LLC boosted its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 10.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,300,000 shares of the biotechnology company’s stock after buying an additional 300,000 shares during the period. Koss Olinger Consulting LLC owned approximately 1.10% of Pacific Biosciences of California worth $4,092,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Pacific Biosciences of California by 47.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,113 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 9,739 shares in the last quarter. Hartline Investment Corp acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at approximately $37,000. Teacher Retirement System of Texas acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at approximately $43,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Pacific Biosciences of California in the 1st quarter valued at approximately $73,000.

Pacific Biosciences of California Stock Up 3.6%

Shares of NASDAQ PACB opened at $2.02 on Monday. The company has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.31. The firm has a market cap of $606.75 million, a PE ratio of -0.88 and a beta of 2.10. Pacific Biosciences of California, Inc. has a 1 year low of $0.85 and a 1 year high of $2.72. The company has a debt-to-equity ratio of 10.51, a current ratio of 6.92 and a quick ratio of 6.02.

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

Analyst Ratings Changes

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

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.