TD Cowen Lowers Standard BioTools (NASDAQ:LAB) Price Target to $2.50

Standard BioTools (NASDAQ:LAB) had its target price decreased by TD Cowen from $2.75 to $2.50 in a report issued on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Standard BioTools Stock Performance

Shares of Standard BioTools stock traded up $0.12 on Thursday, hitting $2.08. 847,605 shares of the company’s stock were exchanged, compared to its average volume of 2,457,843. The stock has a market capitalization of $770.14 million, a PE ratio of -2.86 and a beta of 1.58. The company has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $2.10. Standard BioTools has a 1 year low of $1.21 and a 1 year high of $3.04.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Standard BioTools had a negative return on equity of 30.85% and a negative net margin of 79.92%. The firm had revenue of $44.97 million for the quarter, compared to analysts’ expectations of $42.00 million. On average, analysts expect that Standard BioTools will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average cost of $1.57 per share, with a total value of $785,000.00. Following the completion of the acquisition, the director now directly owns 48,430,821 shares in the company, valued at $76,036,388.97. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders bought 4,117,508 shares of company stock valued at $7,032,080. Company insiders own 53.10% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

Several institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in shares of Standard BioTools by 433.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after buying an additional 14,732 shares in the last quarter. Creative Planning bought a new stake in shares of Standard BioTools in the 3rd quarter valued at about $39,000. SG Americas Securities LLC lifted its holdings in Standard BioTools by 109.7% during the third quarter. SG Americas Securities LLC now owns 101,257 shares of the company’s stock worth $195,000 after buying an additional 52,970 shares during the period. Maven Securities LTD bought a new stake in Standard BioTools during the second quarter valued at about $177,000. Finally, Algert Global LLC bought a new stake in shares of Standard BioTools in the 2nd quarter valued at about $44,000. 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.