Standard BioTools Inc. (NASDAQ:LAB) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Standard BioTools Inc. (NASDAQ:LAB) by 3,691.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,467 shares of the company’s stock after acquiring an additional 396,719 shares during the quarter. Rhumbline Advisers’ holdings in Standard BioTools were worth $721,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Freestone Capital Holdings LLC acquired a new stake in Standard BioTools during the first quarter worth about $31,000. Evolution Wealth Advisors LLC acquired a new stake in Standard BioTools during the 1st quarter worth approximately $33,000. Shell Asset Management Co. acquired a new stake in Standard BioTools during the 1st quarter worth approximately $39,000. Peak Asset Management LLC purchased a new position in Standard BioTools in the first quarter valued at approximately $46,000. Finally, BNP Paribas Financial Markets lifted its position in Standard BioTools by 1,775,900.0% during the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock valued at $48,000 after buying an additional 17,759 shares in the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Casdin Partners Master Fund, L purchased 1,200,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $1.59 per share, with a total value of $1,908,000.00. Following the completion of the transaction, the director now owns 51,775,821 shares of the company’s stock, valued at $82,323,555.39. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired 5,117,508 shares of company stock worth $8,662,080 in the last three months. 53.10% of the stock is owned by insiders.

Standard BioTools Stock Performance

Shares of NASDAQ:LAB opened at $1.97 on Wednesday. The company has a market cap of $729.73 million, a P/E ratio of -1.95 and a beta of 1.58. The business’s 50-day simple moving average is $1.98 and its 200 day simple moving average is $2.25. Standard BioTools Inc. has a one year low of $1.21 and a one year high of $3.04.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 43.45%. The business had revenue of $37.21 million during the quarter, compared to analyst estimates of $48.15 million. Analysts predict that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Standard BioTools 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.