Gilder Gagnon Howe Co Lowers stake in Pacific Biosciences of California (PACB)

Pacific Biosciences of California (PACB) : Gilder Gagnon Howe Co reduced its stake in Pacific Biosciences of California by 1.44% during the most recent quarter end. The investment management company now holds a total of 3,171,538 shares of Pacific Biosciences of California which is valued at $24,579,420 after selling 46,320 shares in Pacific Biosciences of California , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Pacific Biosciences of California makes up approximately 0.45% of Gilder Gagnon Howe Co’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in PACB in the latest quarter, The investment management firm added 11,874 additional shares and now holds a total of 159,794 shares of Pacific Biosciences of California which is valued at $1,238,404. Meeder Asset Management Inc added PACB to its portfolio by purchasing 176 company shares during the most recent quarter which is valued at $1,399.First American Bank reduced its stake in PACB by selling 845 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 27,420 shares of PACB which is valued at $217,989. Pacific Biosciences of California makes up approx 0.02% of First American Bank’s portfolio.

Pacific Biosciences of California (PACB) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $7.75 and reached the intraday high at $7.889. The bulls started the profit booking and pushed the shares to intraday low of $7.59. The trading session was marked by a volume range of 14,60,385 shares exchanging hands. The 52-week high of the shares is $14 and the 52-week low is $3.58. The market cap of the company stands at $676 M and there are 8,71,68,677 shares in public circulation.

On the company’s financial health, Pacific Biosciences of California reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.22. The company had revenue of $20.70 million for the quarter, compared to analysts expectations of $20.15 million. The company’s revenue was down -16.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on Pacific Biosciences of California. Pacific Biosciences of California was Initiated by CL King to “Buy” on Jun 27, 2016.

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.

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