XTX Topco Ltd Grows Position in Standard BioTools Inc. (NASDAQ:LAB)

XTX Topco Ltd increased its holdings in shares of Standard BioTools Inc. (NASDAQ:LAB) by 38.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,965 shares of the company’s stock after purchasing an additional 9,947 shares during the period. XTX Topco Ltd’s holdings in Standard BioTools were worth $64,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Arizona State Retirement System grew its position in Standard BioTools by 16.6% in the 2nd quarter. Arizona State Retirement System now owns 69,596 shares of the company’s stock valued at $123,000 after buying an additional 9,933 shares during the last quarter. Victory Capital Management Inc. lifted its position in Standard BioTools by 27.3% in the second quarter. Victory Capital Management Inc. now owns 46,967 shares of the company’s stock valued at $83,000 after purchasing an additional 10,067 shares during the period. Freestone Capital Holdings LLC purchased a new stake in Standard BioTools in the 1st quarter valued at approximately $31,000. Evolution Wealth Advisors LLC acquired a new position in Standard BioTools during the 1st quarter worth approximately $33,000. Finally, Shell Asset Management Co. purchased a new position in shares of Standard BioTools during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $2.15 per share, with a total value of $322,500.00. Following the purchase, the director now owns 53,775,821 shares in the company, valued at $115,618,015.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 5,117,508 shares of company stock worth $8,662,080. 53.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, TD Cowen dropped their price objective on 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 Performance

LAB stock opened at $1.86 on Thursday. The company has a market cap of $688.98 million, a price-to-earnings ratio of -1.84 and a beta of 1.58. The firm has a 50 day moving average of $1.94 and a 200-day moving average of $2.23. Standard BioTools Inc. has a 12-month low of $1.21 and a 12-month high of $3.04.

Standard BioTools (NASDAQ:LAB) last posted its earnings results 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 company had revenue of $37.21 million for the quarter, compared to the consensus estimate of $48.15 million. Sell-side analysts forecast that Standard BioTools Inc. will post -0.42 earnings per share for the current fiscal year.

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.