Standard BioTools (NASDAQ:LAB) Trading Down 4% – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB)’s share price traded down 4% during trading on Monday . The stock traded as low as $1.81 and last traded at $1.81. 76,267 shares changed hands during trading, a decline of 97% from the average session volume of 2,486,357 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

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

Standard BioTools Stock Down 0.8 %

The company has a 50 day moving average of $1.90 and a 200-day moving average of $2.18. The stock has a market capitalization of $694.54 million, a P/E ratio of -1.87 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $37.21 million for the quarter, compared to analysts’ expectations of $48.15 million. Equities analysts forecast that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L bought 1,000,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $1.63 per share, for a total transaction of $1,630,000.00. Following the completion of the purchase, the director now owns 47,730,821 shares of the company’s stock, valued at $77,801,238.23. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 5,117,508 shares of company stock worth $8,662,080 over the last ninety days. 53.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Freestone Capital Holdings LLC acquired a new position in shares of Standard BioTools during the first quarter valued at $31,000. Evolution Wealth Advisors LLC acquired a new position in shares of Standard BioTools during the first quarter valued at $33,000. Shell Asset Management Co. acquired a new position in Standard BioTools during the first quarter worth about $39,000. Peak Asset Management LLC acquired a new position in Standard BioTools during the first quarter worth about $46,000. Finally, BNP Paribas Financial Markets grew its holdings in 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 worth $48,000 after acquiring an additional 17,759 shares during the period. 53.74% of the stock is owned by institutional investors and hedge funds.

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.