Simplex Trading Lowers stake in Pacific Biosciences of California (PACB)

Pacific Biosciences of California (PACB) : Simplex Trading reduced its stake in Pacific Biosciences of California by 32.42% during the most recent quarter end. The investment management company now holds a total of 29,302 shares of Pacific Biosciences of California which is valued at $259,909 after selling 14,057 shares in Pacific Biosciences of California , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Pacific Biosciences of California makes up approximately 0.03% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in PACB in the latest quarter, The investment management firm added 2,589 additional shares and now holds a total of 5,550 shares of Pacific Biosciences of California which is valued at $49,950.

Pacific Biosciences of California closed down -0.14 points or -1.55% at $8.87 with 6,84,924 shares getting traded on Friday. Post opening the session at $9.02, the shares hit an intraday low of $8.73 and an intraday high of $9.0203 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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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