Insider Buying: Standard BioTools Inc. (NASDAQ:LAB) Director Acquires 200,000 Shares of Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L acquired 200,000 shares of Standard BioTools stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $1.58 per share, with a total value of $316,000.00. Following the completion of the purchase, the director now directly owns 47,930,821 shares in the company, valued at approximately $75,730,697.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Wednesday, May 22nd, Casdin Partners Master Fund, L acquired 150,000 shares of Standard BioTools stock. The stock was acquired at an average price of $2.58 per share, with a total value of $387,000.00.
• On Monday, May 20th, Casdin Partners Master Fund, L purchased 100,000 shares of Standard BioTools stock. The shares were purchased at an average price of $2.58 per share, with a total value of $258,000.00.
• On Friday, May 17th, Casdin Partners Master Fund, L purchased 352,072 shares of Standard BioTools stock. The shares were purchased at an average price of $2.56 per share, with a total value of $901,304.32.
• On Wednesday, May 15th, Casdin Partners Master Fund, L purchased 500,000 shares of Standard BioTools stock. The shares were purchased at an average price of $2.57 per share, with a total value of $1,285,000.00.

Standard BioTools Stock Down 3.8 %

NASDAQ:LAB traded down $0.06 during midday trading on Tuesday, hitting $1.53. The company had a trading volume of 1,734,042 shares, compared to its average volume of 2,679,742. Standard BioTools Inc. has a 52-week low of $1.21 and a 52-week high of $3.16. The stock’s fifty day moving average price is $2.09 and its 200-day moving average price is $2.38. The company has a market capitalization of $566.74 million, a PE ratio of -1.51 and a beta of 1.67.

Standard BioTools (NASDAQ:LAB) last announced its earnings results 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 88.47% and a negative net margin of 87.05%. The company had revenue of $45.54 million during the quarter, compared to analysts’ expectations of $46.50 million. As a group, research analysts forecast that Standard BioTools Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Standard BioTools

Several hedge funds have recently added to or reduced their stakes in LAB. Freestone Capital Holdings LLC bought a new position in shares of Standard BioTools during the first quarter valued at about $31,000. Evolution Wealth Advisors LLC bought a new position in shares of Standard BioTools during the first quarter valued at about $33,000. Shell Asset Management Co. bought a new position in shares of Standard BioTools during the first quarter valued at about $39,000. Peak Asset Management LLC bought a new position in shares of Standard BioTools during the first quarter valued at about $46,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Standard BioTools by 1,775,900.0% during the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock valued at $48,000 after acquiring an additional 17,759 shares during the last quarter. 53.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, TD Cowen reduced their price target on shares of Standard BioTools from $3.50 to $2.75 and set a “buy” rating for the company in a research report on Thursday, August 1st.

About Standard BioTools

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.