Should You Add Pacific Biosciences of California (PACB) to Your Portfolio?

Jackson Square Partners, an investment management firm, released its “SMID-Cap Growth” Q3 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -7.21% (net), compared to a -0.12% for its benchmark, the Russell 2500 Growth Index. The most significant performance contributor during the quarter was information technology sector, while the healthcare sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Jackson Square Partners highlighted stocks like Pacific Biosciences of California, Inc. (NASDAQ:PACB) in its Q3 2022 investor letter. Headquartered in Menlo Park, California, Pacific Biosciences of California, Inc. (NASDAQ:PACB) is a biotechnology company. On December 21, 2022, Pacific Biosciences of California, Inc. (NASDAQ:PACB) stock closed at $9.19 per share. One-month return of Pacific Biosciences of California, Inc. (NASDAQ:PACB) was -11.21%, and its shares lost 57.73% of their value over the last 52 weeks. Pacific Biosciences of California, Inc. (NASDAQ:PACB) has a market capitalization of $2.078 billion.

Jackson Square Partners made the following comment about Pacific Biosciences of California, Inc. (NASDAQ:PACB) in its Q3 2022 investor letter:

“Pacific Biosciences of California, Inc. (NASDAQ:PACB): emerging player in genomic sequencing with its highly differentiated long-read technology; poised to unlock a multi-year share shift towards long-read sequencing as new products dramatically improve throughput and cost to competitively advantaged levels.”

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Pacific Biosciences of California, Inc. (NASDAQ:PACB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Pacific Biosciences of California, Inc. (NASDAQ:PACB) at the end of the third quarter, which was 18 in the previous quarter.

We discussed Pacific Biosciences of California, Inc. (NASDAQ:PACB) in another article and shared the best medical stocks under $20. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.