Standard BioTools Inc. (NASDAQ:LAB) Director Buys $1,630,000.00 in Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L acquired 1,000,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $1.63 per share, with a total value of $1,630,000.00. Following the purchase, the director now owns 47,730,821 shares of the company’s stock, valued at approximately $77,801,238.23. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, August 7th, Casdin Partners Master Fund, L acquired 500,000 shares of Standard BioTools stock. The stock was purchased at an average cost of $1.57 per share, for a total transaction of $785,000.00.
• On Monday, August 5th, Casdin Partners Master Fund, L acquired 200,000 shares of Standard BioTools stock. The shares were bought at an average cost of $1.58 per share, with a total value of $316,000.00.
• On Wednesday, May 22nd, Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock. The shares were 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 acquired at an average cost of $2.58 per share, for a total transaction 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 acquired 500,000 shares of Standard BioTools stock. The shares were purchased at an average price of $2.57 per share, for a total transaction of $1,285,000.00.

Standard BioTools Price Performance

Shares of Standard BioTools stock opened at $1.62 on Friday. The stock’s 50-day moving average is $2.03 and its 200 day moving average is $2.36. Standard BioTools Inc. has a one year low of $1.21 and a one year high of $3.16. The firm has a market cap of $600.08 million, a price-to-earnings ratio of -1.60 and a beta of 1.67.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The business had revenue of $45.54 million during the quarter, compared to analysts’ expectations of $46.50 million. Standard BioTools had a negative return on equity of 88.47% and a negative net margin of 87.05%. On average, sell-side analysts expect that Standard BioTools Inc. will post -0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, TD Cowen cut their target price on Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock in a research note on Thursday, August 1st.

Hedge Funds Weigh In On Standard BioTools

Several large investors have recently made changes to their positions in LAB. Assenagon Asset Management S.A. purchased a new stake in Standard BioTools in the 4th quarter worth about $145,000. 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 worth $4,142,000 after acquiring an additional 88,648 shares during the period. Jump Financial LLC grew its stake in Standard BioTools by 117.2% during the 4th quarter. Jump Financial LLC now owns 70,480 shares of the company’s stock valued at $156,000 after acquiring an additional 38,030 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Standard BioTools in the 4th quarter valued at approximately $55,000. Finally, Parkman Healthcare Partners LLC lifted its holdings in shares of Standard BioTools by 20.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 603,620 shares of the company’s stock worth $1,334,000 after acquiring an additional 103,620 shares during the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Standard BioTools Company Profile

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.