Fintel reports that on December 13, 2023, Wolfe Research initiated coverage of Pacific Biosciences of California (NASDAQ:PACB) with a Peer Perform recommendation.
Analyst Price Forecast Suggests 44.83% Upside
As of November 27, 2023, the average one-year price target for Pacific Biosciences of California is 12.87. The forecasts range from a low of 8.08 to a high of $21.00. The average price target represents an increase of 44.83% from its latest reported closing price of 8.88.
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The projected annual revenue for Pacific Biosciences of California is 180MM, an increase of 6.40%. The projected annual non-GAAP EPS is -1.37.
What is the Fund Sentiment?
There are 552 funds or institutions reporting positions in Pacific Biosciences of California. This is an increase of 37 owner(s) or 7.18% in the last quarter. Average portfolio weight of all funds dedicated to PACB is 0.27%, a decrease of 14.13%. Total shares owned by institutions increased in the last three months by 3.73% to 313,902K shares. 
The put/call ratio of PACB is 0.39, indicating a bullish outlook.
What are Other Shareholders Doing?
ARK Investment Management holds 29,822K shares representing 11.15% ownership of the company. In it's prior filing, the firm reported owning 26,635K shares, representing an increase of 10.69%. The firm decreased its portfolio allocation in PACB by 18.76% over the last quarter.
Madrone Advisors holds 16,416K shares representing 6.14% ownership of the company. No change in the last quarter.
ARKK - ARK Innovation ETF holds 14,332K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 13,944K shares, representing an increase of 2.71%. The firm decreased its portfolio allocation in PACB by 7.48% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 13,448K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 13,650K shares, representing a decrease of 1.50%. The firm decreased its portfolio allocation in PACB by 34.94% over the last quarter.
Nikko Asset Management Americas holds 13,448K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 13,650K shares, representing a decrease of 1.50%. The firm decreased its portfolio allocation in PACB by 29.74% over the last quarter.
Pacific Biosciences of California Background Information
(This description is provided by the company.)
Pacific Biosciences of California, Inc. is empowering life scientists with highly accurate long-read sequencing. The company's innovative instruments are based on Single Molecule, Real-Time (SMRT®) Sequencing technology, which delivers a comprehensive view of genomes, transcriptomes, and epigenomes, enabling access to the full spectrum of genetic variation in any organism. Cited in thousands of peer-reviewed publications, PacBio® sequencing systems are in use by scientists around the world to drive discovery in human biomedical research, plant and animal sciences, and microbiology.
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