American International Group Inc. raised its position in Pacific Biosciences of California, Inc. (NASDAQ:PACB) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,080 shares of the biotechnology company’s stock after buying an additional 3,258 shares during the period. American International Group Inc. owned about 0.05% of Pacific Biosciences of California worth $243,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of PACB. Russell Investments Group Ltd. acquired a new stake in Pacific Biosciences of California during the fourth quarter worth $1,556,000. Wells Fargo & Company MN increased its stake in Pacific Biosciences of California by 65.6% in the first quarter. Wells Fargo & Company MN now owns 220,446 shares of the biotechnology company’s stock worth $1,140,000 after buying an additional 87,308 shares during the period. Essex Investment Management Co. LLC increased its stake in Pacific Biosciences of California by 101.5% in the first quarter. Essex Investment Management Co. LLC now owns 150,518 shares of the biotechnology company’s stock worth $778,000 after buying an additional 75,837 shares during the period. Acadian Asset Management LLC acquired a new stake in Pacific Biosciences of California during the first quarter worth $368,000. Finally, State Street Corp increased its stake in Pacific Biosciences of California by 5.2% in the fourth quarter. State Street Corp now owns 1,386,134 shares of the biotechnology company’s stock worth $5,270,000 after buying an additional 68,226 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.
Shares of Pacific Biosciences of California, Inc. (NASDAQ PACB) opened at 3.33 on Thursday. The company’s market cap is $311.52 million. The firm has a 50-day moving average of $3.44 and a 200 day moving average of $4.33. Pacific Biosciences of California, Inc. has a 52 week low of $3.11 and a 52 week high of $9.50.
A number of equities research analysts recently weighed in on PACB shares. Zacks Investment Research raised shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Cantor Fitzgerald set a $8.00 target price on shares of Pacific Biosciences of California and gave the company a “buy” rating in a research note on Thursday, April 27th. Finally, ValuEngine downgraded shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 13th.
Pacific Biosciences of California Company Profile
Pacific Biosciences of California, Inc designs, develops and manufactures sequencing systems to help scientists resolve genetically complex problems. The Company is engaged in the development, manufacturing and marketing of an integrated platform for genetic analysis. Its Single Molecule, Real-Time (SMRT) technology enables single molecule, real-time detection of biological processes.
Receive News & Ratings for Pacific Biosciences of California Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Biosciences of California Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
