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

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.