Pacific Biosciences Of California Inc. (PACB): Bridger Management Ups Its Stake

According to a newly-amended 13G filing with the US Securities and Exchange Commission,  Roberto Mignone‘s Bridger Management owns 4.46 million shares of Pacific Biosciences Of California Inc. (NASDAQ:PACB), which account for 5.1% of the company’s 86,99 million shares the company reported outstanding as of April 1. The position compares to some 2.16 million shares Bridger disclosed in its 13F filing for the end of the fourth quarter.

Pacific Biosciences of California is a biotechnology company that invents and creates sequencing systems in order to help scientists resolve genetically complex issues, and some of its technology enables single molecule, real time discovery of a variety of biological processes. Over the past 12 months, the company’s shares have increased by 80.3%. Last week, Pacific Biosciences of California reported its first-quarter results and even though the company posted a loss of $0.23 per share, it was better than the expected loss of $0.25 per share, while the revenue of $19.10 million topped the estimates of $18.02 million.

At the end of December, 18 funds tracked by Insider Monkey 18 reported long positions in Pacific Biosciences Of California Inc. (NASDAQ:PACB) up from 11 funds a quarter earlier. Lee Ainslie’s Maverick Capital held the biggest position, valued at $99.3 million, and Mitchell Blutt’s Consonance Capital Management, reported the second-largest stake valued at about $72.2 million in stock. Other money managers that are bullish on this stock were Jim Simons’s Renaissance Technologies and James E. Flynn’s Deerfield Management, Ken Greenberg and David Kim’s Ghost Tree Capital, Phill Gross and Robert Atchinson’s Adage Capital Management, and Dmitry Balyasny’s Balyasny Asset Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Page 1 of 6 – SEC Filing