Alpine Group USVI LLC Invests $2.06 Million in Pacific Biosciences of California (NASDAQ:PACB)

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Alpine Group USVI LLC acquired a new position in shares of Pacific Biosciences of California (NASDAQ:PACB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 400,000 shares of the biotechnology company’s stock, valued at approximately $2,064,000. Pacific Biosciences of California comprises about 0.5% of Alpine Group USVI LLC’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also bought and sold shares of the company. Candriam Luxembourg S.C.A. boosted its holdings in shares of Pacific Biosciences of California by 0.6% during the second quarter. Candriam Luxembourg S.C.A. now owns 333,355 shares of the biotechnology company’s stock worth $3,888,000 after purchasing an additional 2,000 shares during the last quarter. Strs Ohio boosted its holdings in shares of Pacific Biosciences of California by 7.5% during the second quarter. Strs Ohio now owns 47,300 shares of the biotechnology company’s stock worth $286,000 after purchasing an additional 3,300 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Pacific Biosciences of California during the second quarter worth $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Pacific Biosciences of California during the second quarter worth $37,000. Finally, FNY Investment Advisers LLC raised its position in shares of Pacific Biosciences of California by 211.1% in the 2nd quarter. FNY Investment Advisers LLC now owns 11,200 shares of the biotechnology company’s stock worth $67,000 after buying an additional 7,600 shares during the period. Institutional investors and hedge funds own 69.69% of the company’s stock.

Shares of PACB traded up $0.05 during trading hours on Friday, hitting $5.13. The stock had a trading volume of 48,922 shares, compared to its average volume of 1,587,777. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.00. The firm has a market cap of $779.33 million, a P/E ratio of -6.71 and a beta of 1.76. The company’s fifty day simple moving average is $5.41 and its 200 day simple moving average is $6.28. Pacific Biosciences of California has a 12-month low of $3.90 and a 12-month high of $7.84.

Pacific Biosciences of California (NASDAQ:PACB) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $24.62 million for the quarter, compared to analyst estimates of $22.27 million. Pacific Biosciences of California had a negative return on equity of 106.36% and a negative net margin of 140.68%. As a group, sell-side analysts predict that Pacific Biosciences of California will post -0.64 earnings per share for the current fiscal year.

Several research analysts recently weighed in on PACB shares. BidaskClub lowered Pacific Biosciences of California from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. ValuEngine lowered Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, Cantor Fitzgerald set a $8.00 target price on Pacific Biosciences of California and gave the stock a “hold” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Pacific Biosciences of California currently has a consensus rating of “Hold” and a consensus price target of $7.50.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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Institutional Ownership by Quarter for Pacific Biosciences of California (NASDAQ:PACB)

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