Investing

Jackson Square Partners Cuts Stake in Pacific Biosciences of California

Fintel Staff

Published: February 10, 2023 10:31 pm

Fintel reports that Jackson Square Partners has filed a 13G/A form with the SEC disclosing ownership of 15.01MM shares of Pacific Biosciences of California Inc (PACB). This represents 6.64% of the company.

In their previous filing dated February 7, 2022 they reported 22.42MM shares and 10.17% of the company, a decrease in shares of 33.08% and a decrease in total ownership of 3.53% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 24.83% Upside

As of February 10, 2023, the average one-year price target for Pacific Biosciences of California is $12.50. The forecasts range from a low of $10.10 to a high of $14.70. The average price target represents an increase of 24.83% from its latest reported closing price of $10.01.

The projected annual revenue for Pacific Biosciences of California is $180MM, an increase of 31.68%. The projected annual EPS is -$1.37.

What is the Fund Sentiment?

There are 442 funds or institutions reporting positions in Pacific Biosciences of California. This is a decrease of 16 owner(s) or 3.49% in the last quarter. Average portfolio weight of all funds dedicated to PACB is 0.17%, an increase of 93.76%. Total shares owned by institutions decreased in the last three months by 9.88% to 258,839K shares. The put/call ratio of PACB is 0.28, indicating a bullish outlook.

What are large shareholders doing?

ARK Investment Management holds 25,692K shares representing 9.84% ownership of the company. In it’s prior filing, the firm reported owning 28,692K shares, representing a decrease of 11.68%. The firm increased its portfolio allocation in PACB by 56.87% over the last quarter.

ARKK – ARK Innovation ETF holds 14,456K shares representing 5.54% ownership of the company. In it’s prior filing, the firm reported owning 14,079K shares, representing an increase of 2.61%. The firm increased its portfolio allocation in PACB by 141.30% over the last quarter.

Nikko Asset Management Americas holds 14,392K shares representing 5.51% ownership of the company. In it’s prior filing, the firm reported owning 14,345K shares, representing an increase of 0.32%. The firm increased its portfolio allocation in PACB by 43.35% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 14,166K shares representing 5.43% ownership of the company. In it’s prior filing, the firm reported owning 14,392K shares, representing a decrease of 1.59%. The firm increased its portfolio allocation in PACB by 32.41% over the last quarter.

ARKG – ARK Genomic Revolution ETF holds 11,696K shares representing 4.48% ownership of the company. In it’s prior filing, the firm reported owning 12,014K shares, representing a decrease of 2.71%. The firm increased its portfolio allocation in PACB by 121.73% 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.

This article originally appeared on Fintel