Koss Olinger Consulting LLC Has $4.86 Million Holdings in Pacific Biosciences of California, Inc. $PACB

Koss Olinger Consulting LLC decreased its position in shares of Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 21.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,600,000 shares of the biotechnology company’s stock after selling 700,000 shares during the quarter. Koss Olinger Consulting LLC owned approximately 0.86% of Pacific Biosciences of California worth $4,862,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Zacks Investment Management bought a new stake in shares of Pacific Biosciences of California during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Pacific Biosciences of California by 891.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 22,776 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 20,478 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Pacific Biosciences of California during the third quarter valued at $29,000. CIBC Bancorp USA Inc. acquired a new position in shares of Pacific Biosciences of California during the third quarter valued at $38,000. Finally, Prudential Financial Inc. lifted its stake in shares of Pacific Biosciences of California by 73.0% during the second quarter. Prudential Financial Inc. now owns 35,684 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 15,062 shares during the period.

Pacific Biosciences of California Stock Up 1.4%

PACB stock opened at $1.49 on Friday. The business’s fifty day moving average is $1.42 and its 200-day moving average is $1.76. The company has a market cap of $462.79 million, a P/E ratio of -3.47 and a beta of 2.40. Pacific Biosciences of California, Inc. has a twelve month low of $0.96 and a twelve month high of $2.73.

Pacific Biosciences of California (NASDAQ:PACB) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company had revenue of $37.18 million for the quarter, compared to the consensus estimate of $39.94 million. Pacific Biosciences of California had a negative return on equity of 571.06% and a negative net margin of 80.35%. Research analysts anticipate that Pacific Biosciences of California, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PACB has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pacific Biosciences of California in a research note on Tuesday, April 21st. Zacks Research lowered Pacific Biosciences of California from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Barclays upped their price target on Pacific Biosciences of California from $1.00 to $1.50 and gave the company an “underweight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $1.83.

Pacific Biosciences of California Profile

Pacific Biosciences of California, Inc develops, manufactures and sells high-performance DNA sequencing systems for genetic and genomic analysis. The company’s proprietary single-molecule, real-time (SMRT) sequencing technology is designed to enable long-read sequencing, offering high accuracy for applications such as de novo genome assembly, transcriptome characterization and structural variation analysis. Pacific Biosciences markets a suite of instruments, including the Sequel and Sequel IIe systems, alongside reagents, consumables and data analysis software to support a range of life science research.

Founded in 2004 and headquartered in Menlo Park, California, Pacific Biosciences has expanded its global reach by serving academic institutions, biotechnology and pharmaceutical companies, and government research centers across North America, Europe and Asia.