Victory Capital Management Inc. Purchases 10,067 Shares of Standard BioTools Inc. (NASDAQ:LAB)

Victory Capital Management Inc. grew its holdings in Standard BioTools Inc. (NASDAQ:LAB) by 27.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,967 shares of the company’s stock after acquiring an additional 10,067 shares during the quarter. Victory Capital Management Inc.’s holdings in Standard BioTools were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Freestone Capital Holdings LLC bought a new stake in Standard BioTools during the first quarter worth $31,000. Evolution Wealth Advisors LLC bought a new position in shares of Standard BioTools in the first quarter valued at about $33,000. Shell Asset Management Co. acquired a new stake in shares of Standard BioTools during the 1st quarter worth about $39,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Standard BioTools during the second quarter worth approximately $39,000. Finally, Peak Asset Management LLC bought a new stake in Standard BioTools in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Insider Activity at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 1,000,000 shares of Standard BioTools stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $1.63 per share, for a total transaction of $1,630,000.00. Following the purchase, the director now directly owns 47,730,821 shares of the company’s stock, valued at $77,801,238.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders acquired 5,117,508 shares of company stock valued at $8,662,080. 53.10% of the stock is owned by insiders.

Standard BioTools Trading Up 5.3 %

Shares of Standard BioTools stock 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. Standard BioTools Inc. has a 1-year low of $1.21 and a 1-year high of $3.04. The business has a 50-day moving average price of $1.98 and a two-hundred day moving average price of $2.25.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $48.15 million. Equities research analysts forecast that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.