Standard BioTools (NASDAQ:LAB) Shares Up 5.9% – Still a Buy?

Standard BioTools Inc. (NASDAQ:LAB)’s share price traded up 5.9% during trading on Tuesday . The company traded as high as $1.81 and last traded at $1.80. 767,392 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,425,021 shares. The stock had previously closed at $1.70.

Analyst Ratings Changes

Separately, TD Cowen decreased their target price on Standard BioTools from $2.75 to $2.50 and set a “buy” rating for the company in a research report on Thursday.

Standard BioTools Stock Performance

The business has a 50 day moving average price of $1.93 and a two-hundred day moving average price of $2.10. The stock has a market cap of $727.46 million, a PE ratio of -2.21 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. The business had revenue of $44.97 million for the quarter, compared to the consensus estimate of $42.00 million. As a group, research analysts anticipate that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $1.63 per share, for a total transaction of $1,630,000.00. Following the completion of the purchase, the director now owns 47,730,821 shares in the company, valued at approximately $77,801,238.23. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 5,117,508 shares of company stock worth $8,662,080. Insiders own 53.10% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Standard BioTools by 215.3% during the 1st quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after acquiring an additional 8,900,104 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Standard BioTools by 20.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,642,271 shares of the company’s stock valued at $18,837,000 after acquiring an additional 1,788,780 shares during the period. Nikko Asset Management Americas Inc. bought a new stake in Standard BioTools during the 1st quarter valued at $23,993,000. Nan Fung Group Holdings Ltd bought a new stake in Standard BioTools during the 1st quarter valued at $5,103,000. Finally, Magnetar Financial LLC bought a new stake in Standard BioTools during the 1st quarter valued at $4,107,000. Institutional investors own 53.74% of the company’s stock.

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.