Standard BioTools (NASDAQ:LAB) Trading Down 4.5%

Standard BioTools Inc. (NASDAQ:LAB) shares fell 4.5% on Monday . The company traded as low as $1.91 and last traded at $1.92. 165,318 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 2,594,029 shares. The stock had previously closed at $2.01.

Analyst Ratings Changes

Separately, TD Cowen decreased their price objective 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.

Standard BioTools Stock Down 6.5 %

The company has a market cap of $696.39 million, a P/E ratio of -1.99 and a beta of 1.58. The business has a fifty day moving average price of $1.99 and a 200-day moving average price of $2.27.

Standard BioTools (NASDAQ:LAB) last released 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. The business had revenue of $37.21 million during the quarter, compared to the consensus estimate of $48.15 million. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. As a group, research analysts expect that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Standard BioTools

Institutional investors and hedge funds have recently made changes to their positions in the company. Maven Securities LTD acquired a new position in Standard BioTools during the second quarter valued at approximately $177,000. Algert Global LLC acquired a new position in shares of Standard BioTools during the 2nd quarter worth $44,000. The Manufacturers Life Insurance Company bought a new stake in shares of Standard BioTools during the 2nd quarter worth $208,000. AQR Capital Management LLC boosted its stake in Standard BioTools by 283.5% in the second quarter. AQR Capital Management LLC now owns 243,237 shares of the company’s stock valued at $431,000 after buying an additional 179,817 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Standard BioTools by 130.1% in the second quarter. Squarepoint Ops LLC now owns 305,516 shares of the company’s stock valued at $541,000 after acquiring an additional 172,738 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

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.