Sumitomo Mitsui Trust Holdings Inc. Takes Position in Standard BioTools Inc. (NASDAQ:LAB)

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Standard BioTools Inc. (NASDAQ:LABFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,853,491 shares of the company’s stock, valued at approximately $23,993,000. Sumitomo Mitsui Trust Holdings Inc. owned about 3.05% of Standard BioTools at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Hollow Brook Wealth Management LLC raised its position in shares of Standard BioTools by 5.0% in the fourth quarter. Hollow Brook Wealth Management LLC now owns 1,874,405 shares of the company’s stock valued at $4,142,000 after buying an additional 88,648 shares during the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Standard BioTools by 20.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 603,620 shares of the company’s stock valued at $1,334,000 after buying an additional 103,620 shares during the last quarter. Citigroup Inc. acquired a new position in shares of Standard BioTools in the third quarter valued at approximately $550,000. HBK Investments L P acquired a new position in shares of Standard BioTools in the fourth quarter valued at approximately $333,000. Finally, Schoolcraft Capital LLC acquired a new position in Standard BioTools during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on Standard BioTools

Standard BioTools Stock Performance

Shares of LAB stock opened at $1.85 on Tuesday. Standard BioTools Inc. has a one year low of $1.57 and a one year high of $3.16. The company has a 50 day moving average price of $2.28 and a 200 day moving average price of $2.39. The firm has a market capitalization of $685.28 million, a price-to-earnings ratio of -1.83 and a beta of 1.67.

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

Insider Transactions at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 500,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $2.57 per share, with a total value of $1,285,000.00. Following the completion of the transaction, the director now directly owns 44,523,749 shares of the company’s stock, valued at $114,426,034.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 1,102,072 shares of company stock valued at $2,831,304 over the last 90 days. Corporate insiders own 53.10% of the company’s stock.

Standard BioTools Company Profile

(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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Institutional Ownership by Quarter for Standard BioTools (NASDAQ:LAB)

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