Standard BioTools Inc. (NASDAQ:LAB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Standard BioTools Inc. (NASDAQ:LAB) by 184.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 50,330 shares of the company’s stock after purchasing an additional 32,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Standard BioTools were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Freestone Capital Holdings LLC acquired a new stake in shares of Standard BioTools during the 1st quarter worth $31,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Standard BioTools during the 1st quarter worth $33,000. Shell Asset Management Co. acquired a new stake in shares of Standard BioTools during the 1st quarter worth $39,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Standard BioTools during the 2nd quarter worth $39,000. Finally, Peak Asset Management LLC acquired a new stake in Standard BioTools in the 1st quarter valued at $46,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

Standard BioTools Trading Up 0.5 %

Shares of NASDAQ LAB opened at $2.00 on Wednesday. Standard BioTools Inc. has a 12-month low of $1.21 and a 12-month high of $3.05. The company has a market cap of $742.30 million, a P/E ratio of -1.98 and a beta of 1.58. The stock has a fifty day moving average price of $1.96 and a 200 day moving average price of $2.29.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $48.15 million. On average, sell-side analysts forecast that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Standard BioTools news, Director Casdin Partners Master Fund, L bought 200,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $1.58 per share, for a total transaction of $316,000.00. Following the completion of the purchase, the director now directly owns 47,930,821 shares of the company’s stock, valued at $75,730,697.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired 5,117,508 shares of company stock worth $8,662,080 over the last ninety days. Corporate insiders own 53.10% 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.