Standard BioTools (NASDAQ:LAB) Trading Down 4%

Standard BioTools Inc. (NASDAQ:LAB) shares dropped 4% during trading on Wednesday . The company traded as low as $1.90 and last traded at $1.90. Approximately 460,510 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,667,999 shares. The stock had previously closed at $1.98.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price objective 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.

Standard BioTools Stock Down 1.0 %

The stock has a market cap of $718.62 million, a price-to-earnings ratio of -1.92 and a beta of 1.67. The business has a 50-day moving average of $1.95 and a 200-day moving average of $2.30.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. The company had revenue of $37.21 million during the quarter, compared to analysts’ expectations of $48.15 million. Equities analysts anticipate that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Insider Activity at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $1,630,000.00. Following the transaction, the director now directly owns 47,730,821 shares in the company, valued at $77,801,238.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 5,117,508 shares of company stock worth $8,662,080 over the last three months. Company insiders own 53.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Freestone Capital Holdings LLC bought a new position in Standard BioTools during the 1st quarter worth about $31,000. Evolution Wealth Advisors LLC acquired a new stake in Standard BioTools during the first quarter worth approximately $33,000. Xponance Inc. acquired a new stake in Standard BioTools during the second quarter worth approximately $34,000. Shell Asset Management Co. acquired a new stake in shares of Standard BioTools in the first quarter valued at approximately $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Standard BioTools in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

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.