Standard BioTools Inc. (NASDAQ:LAB) Sees Large Increase in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 19,450,000 shares, an increase of 55.6% from the June 30th total of 12,500,000 shares. Approximately 5.4% of the company’s shares are short sold. Based on an average daily trading volume, of 3,120,000 shares, the days-to-cover ratio is presently 6.2 days.

Standard BioTools Trading Up 0.4 %

Shares of NASDAQ LAB traded up $0.01 during midday trading on Friday, reaching $2.35. The company’s stock had a trading volume of 2,297,102 shares, compared to its average volume of 4,177,623. The stock has a 50 day simple moving average of $2.19 and a 200-day simple moving average of $2.39. The stock has a market capitalization of $870.49 million, a price-to-earnings ratio of -2.33 and a beta of 1.67. Standard BioTools has a fifty-two week low of $1.57 and a fifty-two week high of $3.16.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Standard BioTools had a negative net margin of 70.98% and a negative return on equity of 144.74%. The company had revenue of $45.54 million during the quarter, compared to the consensus estimate of $46.50 million. As a group, equities analysts anticipate that Standard BioTools will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

LAB has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of Standard BioTools in a research note on Thursday, April 4th. They set a “buy” rating and a $3.25 price objective on the stock. TD Cowen assumed coverage on shares of Standard BioTools in a research report on Tuesday, April 16th. They set a “buy” rating and a $3.50 price target on the stock.

Insiders Place Their Bets

In other news, Director Casdin Partners Master Fund, L purchased 352,072 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $2.56 per share, for a total transaction of $901,304.32. Following the completion of the acquisition, the director now directly owns 45,375,821 shares in the company, valued at $116,162,101.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have bought 1,102,072 shares of company stock valued at $2,831,304. 53.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Standard BioTools

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