Standard BioTools (NASDAQ:LAB) Trading Up 8.5%

Standard BioTools Inc. (NASDAQ:LAB) traded up 8.5% during mid-day trading on Thursday . The company traded as high as $2.46 and last traded at $2.43. 434,720 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,208,882 shares. The stock had previously closed at $2.24.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LAB shares. TD Cowen started coverage on shares of Standard BioTools in a research note on Tuesday, April 16th. They issued a “buy” rating and a $3.50 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Standard BioTools in a research report on Thursday, April 4th. They set a “buy” rating and a $3.25 price target on the stock.

Standard BioTools Stock Performance

The stock has a market capitalization of $713.69 million, a P/E ratio of -2.55 and a beta of 1.64. The business has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.37.

Standard BioTools (NASDAQ:LAB) last issued its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05. The company had revenue of $28.19 million for the quarter, compared to the consensus estimate of $28.00 million. On average, sell-side analysts anticipate that Standard BioTools Inc. will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 250,000 shares of Standard BioTools stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $2.57 per share, with a total value of $642,500.00. Following the transaction, the director now owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 53.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Standard BioTools

Large investors have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC bought a new stake in shares of Standard BioTools in the 1st quarter worth $33,000. BNP Paribas Financial Markets grew its holdings in shares of Standard BioTools by 1,775,900.0% in the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock valued at $48,000 after acquiring an additional 17,759 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Standard BioTools during the third quarter valued at approximately $50,000. Cannon Global Investment Management LLC bought a new stake in Standard BioTools during the first quarter worth $54,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Standard BioTools in the fourth quarter worth $55,000. Institutional investors own 53.74% 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.