Standard BioTools (NASDAQ:LAB) Trading Down 3.8%

Standard BioTools Inc. (NASDAQ:LAB) was down 3.8% during mid-day trading on Wednesday . The company traded as low as $1.77 and last traded at $1.77. Approximately 267,279 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 2,606,991 shares. The stock had previously closed at $1.84.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LAB shares. TD Cowen started coverage on shares of Standard BioTools in a report on Tuesday, April 16th. They issued a “buy” rating and a $3.50 price target on the stock. Jefferies Financial Group assumed coverage on shares of Standard BioTools in a report on Thursday, April 4th. They issued a “buy” rating and a $3.25 price target on the stock.

Standard BioTools Stock Down 4.3 %

The business’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $2.39.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). Standard BioTools had a negative return on equity of 144.74% and a negative net margin of 70.98%. The firm had revenue of $45.54 million for the quarter, compared to analysts’ expectations of $46.50 million. As a group, sell-side analysts anticipate that Standard BioTools Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average cost of $2.58 per share, with a total value of $387,000.00. Following the purchase, the director now owns 45,975,821 shares in the company, valued at $118,617,618.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 1,102,072 shares of company stock valued at $2,831,304. Company insiders own 53.10% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

Several large investors have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC purchased a new stake in Standard BioTools in the 1st quarter valued at about $31,000. Evolution Wealth Advisors LLC purchased a new stake in Standard BioTools in the 1st quarter valued at about $33,000. Shell Asset Management Co. purchased a new stake in Standard BioTools in the 1st quarter valued at about $39,000. Peak Asset Management LLC purchased a new stake in Standard BioTools in the 1st quarter valued at about $46,000. Finally, BNP Paribas Financial Markets boosted its position in Standard BioTools by 1,775,900.0% in the 1st quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock valued at $48,000 after buying an additional 17,759 shares during the period. 53.74% of the stock is owned by hedge funds and other institutional investors.

Standard BioTools Company Profile

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.