Evolution Wealth Advisors LLC Invests $33,000 in Standard BioTools Inc. (NASDAQ:LAB)

Evolution Wealth Advisors LLC bought a new position in shares of Standard BioTools Inc. (NASDAQ:LAB) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,210 shares of the company’s stock, valued at approximately $33,000.

Several other large investors have also made changes to their positions in LAB. Citigroup Inc. purchased a new stake in shares of Standard BioTools during the third quarter worth approximately $550,000. Acadian Asset Management LLC purchased a new stake in Standard BioTools in the 3rd quarter valued at $50,000. Assenagon Asset Management S.A. purchased a new stake in Standard BioTools in the 4th quarter valued at $145,000. Hollow Brook Wealth Management LLC grew its holdings in shares of Standard BioTools by 5.0% during the 4th quarter. Hollow Brook Wealth Management LLC now owns 1,874,405 shares of the company’s stock worth $4,142,000 after purchasing an additional 88,648 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Standard BioTools by 117.2% during the 4th quarter. Jump Financial LLC now owns 70,480 shares of the company’s stock worth $156,000 after purchasing an additional 38,030 shares during the period. 53.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LAB. Jefferies Financial Group began coverage on Standard BioTools in a research note on Thursday, April 4th. They set a “buy” rating and a $3.25 target price on the stock. TD Cowen started coverage on Standard BioTools in a research note on Tuesday, April 16th. They set a “buy” rating and a $3.50 target price on the stock.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 352,072 shares of the stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $901,304.32. Following the purchase, the director now owns 45,375,821 shares of the company’s stock, valued at approximately $116,162,101.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have purchased 1,102,072 shares of company stock worth $2,831,304. 53.10% of the stock is currently owned by insiders.

Standard BioTools Price Performance

Shares of NASDAQ LAB traded up $0.07 during midday trading on Wednesday, hitting $1.84. 1,360,555 shares of the company’s stock were exchanged, compared to its average volume of 2,651,653. Standard BioTools Inc. has a twelve month low of $1.57 and a twelve month high of $3.16. The company has a market cap of $681.57 million, a PE ratio of -1.80 and a beta of 1.68. The firm’s fifty day simple moving average is $2.32 and its 200-day simple moving average is $2.39.

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

Standard BioTools 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.