Standard BioTools (NASDAQ:LAB) Stock Price Down 2.4%

Shares of Standard BioTools Inc. (NASDAQ:LAB) were down 2.4% on Tuesday . The company traded as low as $2.03 and last traded at $2.04. Approximately 84,135 shares changed hands during trading, a decline of 97% from the average daily volume of 2,602,962 shares. The stock had previously closed at $2.09.

Analyst Upgrades and Downgrades

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

Standard BioTools Stock Up 1.5 %

The firm has a 50-day moving average of $1.99 and a 200 day moving average of $2.28. The stock has a market capitalization of $751.95 million, a P/E ratio of -2.01 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last released 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. The company had revenue of $37.21 million during the quarter, compared to the consensus estimate of $48.15 million. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 43.45%. Analysts predict that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity

In related news, Director Casdin Partners Master Fund, L bought 1,200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $1.59 per share, for a total transaction of $1,908,000.00. Following the transaction, the director now directly owns 51,775,821 shares of the company’s stock, valued at $82,323,555.39. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 5,117,508 shares of company stock worth $8,662,080. Company insiders own 53.10% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Standard BioTools by 215.3% in the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after buying an additional 8,900,104 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Standard BioTools in the 1st quarter worth approximately $23,993,000. Swiss National Bank bought a new stake in Standard BioTools during the 1st quarter worth approximately $1,162,000. Dynamic Technology Lab Private Ltd acquired a new stake in Standard BioTools during the 4th quarter valued at $55,000. Finally, Bank of New York Mellon Corp raised its position in Standard BioTools by 1,019.8% in 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 purchasing an additional 893,383 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

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.