Algert Global LLC Acquires Shares of 25,117 Standard BioTools Inc. (NASDAQ:LAB)

Algert Global LLC acquired a new stake in Standard BioTools Inc. (NASDAQ:LAB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,117 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in Standard BioTools in the second quarter valued at approximately $208,000. AQR Capital Management LLC grew its holdings in Standard BioTools by 283.5% in the second quarter. AQR Capital Management LLC now owns 243,237 shares of the company’s stock valued at $431,000 after purchasing an additional 179,817 shares during the period. Squarepoint Ops LLC grew its holdings in Standard BioTools by 130.1% in the second quarter. Squarepoint Ops LLC now owns 305,516 shares of the company’s stock valued at $541,000 after purchasing an additional 172,738 shares during the period. Xponance Inc. purchased a new position in shares of Standard BioTools in the second quarter valued at approximately $34,000. Finally, XTX Topco Ltd lifted its position in shares of Standard BioTools by 38.2% in the second quarter. XTX Topco Ltd now owns 35,965 shares of the company’s stock valued at $64,000 after acquiring an additional 9,947 shares in the last quarter. 53.74% of the stock is owned by institutional investors and hedge funds.

Standard BioTools Price Performance

NASDAQ LAB opened at $1.89 on Friday. The company has a market cap of $700.10 million, a PE ratio of -1.87 and a beta of 1.58. The stock’s 50 day simple moving average is $1.90 and its 200-day simple moving average is $2.18. Standard BioTools Inc. has a 1-year low of $1.21 and a 1-year high of $3.04.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Casdin Partners Master Fund, L acquired 1,000,000 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $1.63 per share, with a total value of $1,630,000.00. Following the completion of the purchase, the director now owns 47,730,821 shares of the company’s stock, valued at approximately $77,801,238.23. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have purchased 5,117,508 shares of company stock valued at $8,662,080. Insiders own 53.10% 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.