Amova Asset Management Americas Inc. Sells 764,273 Shares of Standard BioTools Inc. $LAB

Amova Asset Management Americas Inc. reduced its position in Standard BioTools Inc. (NASDAQ:LAB) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,391,829 shares of the company’s stock after selling 764,273 shares during the period. Amova Asset Management Americas Inc. owned approximately 1.40% of Standard BioTools worth $7,009,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LAB. Savant Capital LLC increased its position in shares of Standard BioTools by 199.3% during the second quarter. Savant Capital LLC now owns 56,957 shares of the company’s stock worth $68,000 after acquiring an additional 37,926 shares in the last quarter. Prudential Financial Inc. increased its holdings in Standard BioTools by 72.7% during the 2nd quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock worth $47,000 after purchasing an additional 16,541 shares in the last quarter. Creative Planning raised its stake in shares of Standard BioTools by 56.6% in the second quarter. Creative Planning now owns 61,102 shares of the company’s stock worth $73,000 after purchasing an additional 22,082 shares during the last quarter. Front Street Capital Management Inc. purchased a new position in shares of Standard BioTools during the second quarter valued at approximately $145,000. Finally, Legal & General Group Plc raised its position in Standard BioTools by 25.7% in the 2nd quarter. Legal & General Group Plc now owns 310,435 shares of the company’s stock valued at $373,000 after buying an additional 63,484 shares during the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LAB. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Finally, TD Cowen dropped their price target on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $1.35.

Standard BioTools Stock Up 1.9%

Shares of NASDAQ LAB opened at $1.06 on Thursday. Standard BioTools Inc. has a 52 week low of $0.92 and a 52 week high of $1.72. The company has a market cap of $407.64 million, a P/E ratio of -5.30 and a beta of 1.36. The business has a 50-day simple moving average of $1.32 and a two-hundred day simple moving average of $1.33.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.20%. The firm had revenue of $23.80 million during the quarter, compared to the consensus estimate of $18.50 million. Equities research analysts anticipate that Standard BioTools Inc. will post -0.29 EPS for the current year.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.