Standard BioTools (NASDAQ:LAB) Cut to “Sell” at Wall Street Zen

Standard BioTools (NASDAQ:LAB) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other research firms have also commented on LAB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a research note on Thursday, January 22nd. Zacks Research raised shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Price Performance

Shares of LAB opened at $0.99 on Friday. The business has a 50-day moving average of $1.31 and a 200-day moving average of $1.33. The company has a market capitalization of $380.65 million, a price-to-earnings ratio of -4.95 and a beta of 1.36. Standard BioTools has a 1 year low of $0.92 and a 1 year high of $1.72.

Standard BioTools (NASDAQ:LAB) last announced its 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. The business had revenue of $23.80 million for the quarter, compared to analysts’ expectations of $18.50 million. Standard BioTools had a negative return on equity of 11.20% and a negative net margin of 59.39%. As a group, sell-side analysts anticipate that Standard BioTools will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds have recently added to or reduced their stakes in LAB. Casdin Capital LLC grew its holdings in Standard BioTools by 14.5% in the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock worth $113,643,000 after purchasing an additional 11,225,000 shares during the period. Mak Capital One LLC increased its stake in Standard BioTools by 184.6% in the third quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after purchasing an additional 10,334,384 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Standard BioTools by 133.0% during the fourth quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock valued at $4,336,000 after purchasing an additional 1,933,853 shares during the period. Long Focus Capital Management LLC boosted its position in shares of Standard BioTools by 12.8% during the 3rd quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after purchasing an additional 1,292,804 shares in the last quarter. Finally, Kent Lake PR LLC bought a new position in shares of Standard BioTools during the 2nd quarter worth about $1,200,000. 53.74% of the stock is currently owned by institutional investors.

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.