Standard BioTools (NASDAQ:LAB) Coverage Initiated at TD Cowen

TD Cowen initiated coverage on shares of Standard BioTools (NASDAQ:LAB) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $3.50 price objective on the stock.

Separately, Jefferies Financial Group began coverage on shares of Standard BioTools in a research note on Thursday, April 4th. They set a buy rating and a $3.25 target price for the company.

Standard BioTools Stock Performance

Shares of LAB opened at $2.71 on Tuesday. Standard BioTools has a fifty-two week low of $1.46 and a fifty-two week high of $3.16. The company has a market capitalization of $786.23 million, a price-to-earnings ratio of -2.85 and a beta of 1.64. The firm has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $2.32.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.05. The business had revenue of $28.19 million for the quarter, compared to analyst estimates of $28.00 million. Equities research analysts forecast that Standard BioTools will post -0.47 EPS for the current year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 250,000 shares of Standard BioTools stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the completion of the transaction, the director now directly owns 11,496,525 shares in the company, valued at $29,546,069.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 53.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Schoolcraft Capital LLC purchased a new position in Standard BioTools in the first quarter valued at about $201,000. HBK Investments L P purchased a new position in Standard BioTools in the fourth quarter valued at about $333,000. Vanguard Group Inc. increased its holdings in Standard BioTools by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company’s stock valued at $9,136,000 after buying an additional 159,413 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Standard BioTools in the fourth quarter valued at about $295,000. Finally, Barclays PLC increased its holdings in Standard BioTools by 239.0% in the fourth quarter. Barclays PLC now owns 163,392 shares of the company’s stock valued at $361,000 after buying an additional 115,198 shares in the last quarter. 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.