Primecap Management Co. CA Has $5.33 Million Stock Holdings in Standard BioTools Inc. (NASDAQ:LAB)

Primecap Management Co. CA lowered its stake in Standard BioTools Inc. (NASDAQ:LAB) by 0.4% during the second quarter, HoldingsChannel.com reports. The firm owned 3,008,643 shares of the company’s stock after selling 13,200 shares during the period. Primecap Management Co. CA’s holdings in Standard BioTools were worth $5,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC lifted its stake in Standard BioTools by 117.2% in the fourth quarter. Jump Financial LLC now owns 70,480 shares of the company’s stock valued at $156,000 after buying an additional 38,030 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Standard BioTools in the 4th quarter valued at about $55,000. Parkman Healthcare Partners LLC raised its position in shares of Standard BioTools by 20.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 603,620 shares of the company’s stock valued at $1,334,000 after acquiring an additional 103,620 shares during the period. HBK Investments L P bought a new position in Standard BioTools during the 4th quarter worth approximately $333,000. Finally, Schoolcraft Capital LLC acquired a new position in Standard BioTools during the first quarter valued at approximately $201,000. 53.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Casdin Partners Master Fund, L acquired 150,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $2.15 per share, with a total value of $322,500.00. Following the transaction, the director now owns 53,775,821 shares of the company’s stock, valued at approximately $115,618,015.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 5,117,508 shares of company stock worth $8,662,080 over the last quarter. 53.10% of the stock is currently owned by company insiders.

Standard BioTools Trading Up 1.5 %

NASDAQ:LAB opened at $2.03 on Thursday. Standard BioTools Inc. has a 1 year low of $1.21 and a 1 year high of $3.05. The stock has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $2.28. The stock has a market cap of $751.95 million, a price-to-earnings ratio of -2.01 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings data 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 business had revenue of $37.21 million during the quarter, compared to analyst estimates of $48.15 million. Sell-side analysts forecast that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

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.