Dimensional Fund Advisors LP Sells 904,474 Shares of Standard BioTools Inc. (NASDAQ:LAB)

Dimensional Fund Advisors LP lessened its stake in Standard BioTools Inc. (NASDAQ:LAB) by 71.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 362,385 shares of the company’s stock after selling 904,474 shares during the period. Dimensional Fund Advisors LP owned approximately 0.10% of Standard BioTools worth $641,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Standard BioTools by 215.3% in the 1st quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock worth $35,322,000 after purchasing an additional 8,900,104 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Standard BioTools in the 1st quarter worth approximately $23,993,000. Swiss National Bank bought a new stake in Standard BioTools in the 1st quarter worth approximately $1,162,000. Rhumbline Advisers grew its position in shares of Standard BioTools by 3,691.1% during the 2nd quarter. Rhumbline Advisers now owns 407,467 shares of the company’s stock valued at $721,000 after acquiring an additional 396,719 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Standard BioTools by 1,019.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company’s stock valued at $1,736,000 after acquiring an additional 893,383 shares during the period. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Price Performance

Shares of LAB stock opened at $1.89 on Monday. Standard BioTools Inc. has a 1 year low of $1.21 and a 1 year high of $3.04. The firm has a fifty day moving average price of $1.90 and a 200-day moving average price of $2.18. The company has a market cap of $700.10 million, a price-to-earnings ratio of -1.87 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 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 firm had revenue of $37.21 million during the quarter, compared to the consensus estimate of $48.15 million. Equities research analysts expect that Standard BioTools Inc. will post -0.42 EPS for the current year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L bought 150,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average price of $2.15 per share, for a total transaction of $322,500.00. Following the purchase, the director now owns 53,775,821 shares in the company, valued at $115,618,015.15. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have bought 5,117,508 shares of company stock worth $8,662,080. 53.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, TD Cowen cut 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.

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.