Standard BioTools (NASDAQ:LAB) Trading Down 6.3%

Standard BioTools Inc. (NASDAQ:LABGet Free Report) shares traded down 6.3% during trading on Friday . The stock traded as low as $2.35 and last traded at $2.36. 1,020,792 shares were traded during mid-day trading, a decline of 55% from the average session volume of 2,254,124 shares. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

LAB has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Standard BioTools in a research report on Thursday, April 4th. They set a “buy” rating and a $3.25 target price on the stock. TD Cowen initiated coverage on Standard BioTools in a research report on Tuesday, April 16th. They set a “buy” rating and a $3.50 target price on the stock.

Get Our Latest Stock Analysis on Standard BioTools

Standard BioTools Stock Performance

The company has a 50-day moving average of $2.57 and a 200-day moving average of $2.44.

Standard BioTools (NASDAQ:LABGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The firm had revenue of $45.54 million during the quarter, compared to analyst estimates of $46.50 million. Standard BioTools had a negative net margin of 70.98% and a negative return on equity of 144.74%. Equities analysts predict that Standard BioTools Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Casdin Partners Master Fund, L acquired 352,072 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $2.56 per share, with a total value of $901,304.32. Following the completion of the acquisition, the director now owns 45,375,821 shares of the company’s stock, valued at $116,162,101.76. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 1,102,072 shares of company stock valued at $2,831,304. Company insiders own 53.10% of the company’s stock.

Institutional Trading of Standard BioTools

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in shares of Standard BioTools in the first quarter worth about $529,000. FourWorld Capital Management LLC purchased a new stake in shares of Standard BioTools in the first quarter worth about $249,000. Janus Henderson Group PLC purchased a new stake in shares of Standard BioTools in the first quarter worth about $196,000. Redmile Group LLC purchased a new stake in shares of Standard BioTools in the first quarter worth about $1,116,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Standard BioTools by 157.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 68,869 shares of the company’s stock worth $187,000 after buying an additional 42,069 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

(Get Free Report)

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.

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