Standard BioTools (LAB) to Release Quarterly Earnings on Wednesday

Standard BioTools (NASDAQ:LAB) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Standard BioTools has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $37.21 million for the quarter, compared to analysts’ expectations of $48.15 million. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 43.45%. On average, analysts expect Standard BioTools to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Standard BioTools Stock Down 2.9 %

LAB opened at $1.68 on Monday. The business’s fifty day simple moving average is $1.94 and its 200 day simple moving average is $2.12. Standard BioTools has a 52 week low of $1.21 and a 52 week high of $3.04. The stock has a market cap of $622.31 million, a PE ratio of -1.66 and a beta of 1.58.

Insiders Place Their Bets

In related news, Director Casdin Partners Master Fund, L acquired 1,000,000 shares of Standard BioTools stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $1.63 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 5,117,508 shares of company stock valued at $8,662,080 over the last three months. Insiders own 53.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen dropped their target price on 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.