The Manufacturers Life Insurance Company Invests $208,000 in Standard BioTools Inc. (NASDAQ:LAB)

The Manufacturers Life Insurance Company bought a new stake in Standard BioTools Inc. (NASDAQ:LAB) in the second quarter, Holdings Channel reports. The institutional investor bought 117,395 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors have also recently bought and sold shares of the company. Freestone Capital Holdings LLC bought a new position in shares of Standard BioTools during the 1st quarter worth approximately $31,000. Evolution Wealth Advisors LLC bought a new position in shares of Standard BioTools during the first quarter valued at $33,000. Shell Asset Management Co. acquired a new stake in shares of Standard BioTools in the 1st quarter valued at $39,000. Peak Asset Management LLC bought a new stake in shares of Standard BioTools in the 1st quarter worth about $46,000. Finally, BNP Paribas Financial Markets increased its position in shares of Standard BioTools by 1,775,900.0% during the 1st quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock worth $48,000 after purchasing an additional 17,759 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Stock Performance

Shares of LAB opened at $1.90 on Friday. The company has a market cap of $703.80 million, a price-to-earnings ratio of -1.88 and a beta of 1.58. The stock has a fifty day moving average price of $1.92 and a two-hundred day moving average price of $2.16. Standard BioTools Inc. has a 52-week low of $1.21 and a 52-week high of $3.04.

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

Analyst Ratings Changes

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.

Insiders Place Their Bets

In related news, Director Casdin Partners Master Fund, L acquired 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $1.57 per share, for a total transaction of $785,000.00. Following the transaction, the director now directly owns 48,430,821 shares of the company’s stock, valued at approximately $76,036,388.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 5,117,508 shares of company stock valued at $8,662,080. Insiders own 53.10% of the company’s stock.

About Standard BioTools

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.