Bridger Management buys $33,881,173 stake in Pacific Biosciences of California (PACB)

Pacific Biosciences of California (PACB) : Bridger Management scooped up 1,938,090 additional shares in Pacific Biosciences of California during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,096,877 shares of Pacific Biosciences of California which is valued at $33,881,173.Pacific Biosciences of California makes up approximately 2.04% of Bridger Management’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al added PACB to its portfolio by purchasing 18,800 company shares during the most recent quarter which is valued at $155,476. Pacific Biosciences of California makes up approx 0.01% of Tudor Investment Corp Et Al’s portfolio.Renaissance Technologies reduced its stake in PACB by selling 784,636 shares or 66.01% in the most recent quarter. The Hedge Fund company now holds 404,064 shares of PACB which is valued at $3,341,609. Pacific Biosciences of California makes up approx 0.01% of Renaissance Technologies’s portfolio. Her Majesty The Queen In Right Of The Province Of Alberta… added PACB to its portfolio by purchasing 99,100 company shares during the most recent quarter which is valued at $768,025. Pacific Biosciences of California makes up approx 0.01% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Trellus Management Company boosted its stake in PACB in the latest quarter, The investment management firm added 63,600 additional shares and now holds a total of 225,000 shares of Pacific Biosciences of California which is valued at $1,779,750. Pacific Biosciences of California makes up approx 4.02% of Trellus Management Company’s portfolio.

Pacific Biosciences of California opened for trading at $8.44 and hit $8.85 on the upside on Wednesday, eventually ending the session at $8.85, with a gain of 4.49% or 0.38 points. The heightened volatility saw the trading volume jump to 1,341,369 shares. Company has a market cap of $813 M.

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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