Pacific Biosciences of California (PACB) : Thrax Management added new position in Pacific Biosciences of California during the most recent quarter end. The investment management firm now holds 410,876 shares of Pacific Biosciences of California which is valued at $3,393,836 , the company said in a statement filed on Nov 14, 2016 with the SEC.Pacific Biosciences of California makes up approximately 1.31% of Thrax Management’s portfolio.
Other Hedge Funds, Including , Schonfeld Strategic Advisors sold out all of its stake in PACB during the most recent quarter. The investment firm sold 41,859 shares of PACB which is valued $345,755.Blackrock Advisors reduced its stake in PACB by selling 1,314 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 1,684,020 shares of PACB which is valued at $12,276,506. Pacific Biosciences of California makes up approx 0.01% of Blackrock Advisors’s portfolio. Bradley Foster Sargent Incct added PACB to its portfolio by purchasing 25,000 company shares during the most recent quarter which is valued at $208,750. Pacific Biosciences of California makes up approx 0.01% of Bradley Foster Sargent Incct’s portfolio.
Pacific Biosciences of California closed down -0.04 points or -0.52% at $7.61 with 10,19,204 shares getting traded on Monday. Post opening the session at $7.69, the shares hit an intraday low of $7.54 and an intraday high of $7.75 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Pacific Biosciences of California reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.20. The company had revenue of $25.10 million for the quarter, compared to analysts expectations of $24.70 million. The company’s revenue was up 80.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Many Wall Street Analysts have commented on Pacific Biosciences of California. Shares were Reiterated by Cantor Fitzgerald on Nov 3, 2016 to “Buy” and Lowered the Price Target to $ 15 from a previous price target of $18 .
Pacific Biosciences of California Inc. designs develops and manufactures the PacBio RS II Sequencing System to help scientists resolve genetically complex problems. Based on the Company’s Single Molecule Real-Time (SMRT) technology its products enable de novo genome assembly to finish genomes in order to more fully identify annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes characterize alternatively spliced isoforms and find genes; targeted sequencing to more comprehensively characterize genetic variations; and DNA (deoxyribonucleic acid) base modification identification to help characterize epigenetic regulation and DNA damage. SMRT enables single molecule real-time detection of biological processes. Based on its SMRT technology the Company introduced the PacBio RS II System to address many of the limitations.