Insider Buying: Standard BioTools Inc. (NASDAQ:LAB) Director Purchases 150,000 Shares of Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $2.15 per share, for a total transaction of $322,500.00. Following the acquisition, the director now owns 53,775,821 shares in the company, valued at $115,618,015.15. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, August 23rd, Casdin Partners Master Fund, L bought 292,100 shares of Standard BioTools stock. The shares were purchased at an average cost of $2.13 per share, for a total transaction of $622,173.00.
• On Wednesday, August 21st, Casdin Partners Master Fund, L bought 500,000 shares of Standard BioTools stock. The shares were purchased at an average cost of $1.90 per share, for a total transaction of $950,000.00.
• On Monday, August 19th, Casdin Partners Master Fund, L purchased 250,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.85 per share, for a total transaction of $462,500.00.
• On Wednesday, August 14th, Casdin Partners Master Fund, L purchased 1,200,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.59 per share, for a total transaction of $1,908,000.00.
• On Monday, August 12th, Casdin Partners Master Fund, L purchased 500,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.64 per share, for a total transaction of $820,000.00.
• On Friday, August 9th, Casdin Partners Master Fund, L purchased 525,408 shares of Standard BioTools stock. The shares were bought at an average price of $1.61 per share, for a total transaction of $845,906.88.
• On Wednesday, August 7th, Casdin Partners Master Fund, L purchased 500,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.57 per share, for a total transaction of $785,000.00.
• On Friday, August 2nd, Casdin Partners Master Fund, L purchased 1,000,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.63 per share, for a total transaction of $1,630,000.00.
• On Monday, August 5th, Casdin Partners Master Fund, L purchased 200,000 shares of Standard BioTools stock. The shares were bought at an average price of $1.58 per share, for a total transaction of $316,000.00.

Standard BioTools Price Performance

LAB opened at $2.17 on Tuesday. Standard BioTools Inc. has a 12 month low of $1.21 and a 12 month high of $3.16. The stock has a market cap of $803.81 million, a P/E ratio of -2.15 and a beta of 1.67. The stock’s 50 day moving average price is $1.92 and its 200 day moving average price is $2.32.

Standard BioTools (NASDAQ:LAB) last posted its earnings results on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. Standard BioTools had a negative return on equity of 88.47% 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 anticipate that Standard BioTools Inc. will post -0.4 EPS for the current year.

Institutional Trading of Standard BioTools

Several large investors have recently added to or reduced their stakes in LAB. Freestone Capital Holdings LLC acquired a new position in shares of Standard BioTools during the 1st quarter valued at $31,000. Evolution Wealth Advisors LLC acquired a new position in shares of Standard BioTools during the 1st quarter valued at $33,000. Xponance Inc. acquired a new position in shares of Standard BioTools during the 2nd quarter valued at $34,000. Shell Asset Management Co. acquired a new position in shares of Standard BioTools during the 1st quarter valued at $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Standard BioTools during the 2nd quarter valued at $39,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price target on Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock 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.