Ghost Tree Capital Lowers stake in Pacific Biosciences of California (PACB)

Pacific Biosciences of California (PACB) : Ghost Tree Capital reduced its stake in Pacific Biosciences of California by 6.67% during the most recent quarter end. The investment management company now holds a total of 700,000 shares of Pacific Biosciences of California which is valued at $6.2 Million after selling 50,000 shares in Pacific Biosciences of California , the firm said in a disclosure report filed with the SEC on May 13, 2016.Pacific Biosciences of California makes up approximately 4.97% of Ghost Tree Capital’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in PACB by selling 20,200 shares or 19.46% in the most recent quarter. The Hedge Fund company now holds 83,600 shares of PACB which is valued at $736,516.Mutual Of America Capital Management boosted its stake in PACB in the latest quarter, The investment management firm added 100,660 additional shares and now holds a total of 422,515 shares of Pacific Biosciences of California which is valued at $3.7 Million. Pacific Biosciences of California makes up approx 0.08% of Mutual Of America Capital Management’s portfolio. Quantbot Technologies Lp added PACB to its portfolio by purchasing 6,211 company shares during the most recent quarter which is valued at $59,936. Pacific Biosciences of California makes up approx 0.01% of Quantbot Technologies Lp’s portfolio.

Pacific Biosciences of California closed down -0.1 points or -1.06% at $9.33 with 9,88,028 shares getting traded on Wednesday. Post opening the session at $9.42, the shares hit an intraday low of $9.31 and an intraday high of $9.57 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Pacific Biosciences of California reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $-0.24. The company had revenue of $19.10 million for the quarter, compared to analysts expectations of $17.70 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.

Many Wall Street Analysts have commented on Pacific Biosciences of California. First Analysis Sec Initiated Pacific Biosciences of California on Apr 15, 2016 to “Overweight”, Price Target of the shares are set at $11.

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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