Casdin Partners Master Fund, L Buys 1,000,000 Shares of Standard BioTools Inc. (NASDAQ:LAB) Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Casdin Partners Master Fund, L purchased 1,000,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $1.63 per share, with a total value of $1,630,000.00. Following the purchase, the director now owns 47,730,821 shares of the company’s stock, valued at approximately $77,801,238.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Casdin Partners Master Fund, L also recently made the following trade(s):

• On Monday, August 5th, Casdin Partners Master Fund, L purchased 200,000 shares of Standard BioTools stock. The stock was acquired at an average cost of $1.58 per share, with a total value of $316,000.00.
• On Wednesday, May 22nd, Casdin Partners Master Fund, L purchased 150,000 shares of Standard BioTools stock. The stock was acquired at an average cost of $2.58 per share, with a total value of $387,000.00.
• On Monday, May 20th, Casdin Partners Master Fund, L purchased 100,000 shares of Standard BioTools stock. The stock was acquired at an average cost of $2.58 per share, with a total value of $258,000.00.
• On Friday, May 17th, Casdin Partners Master Fund, L purchased 352,072 shares of Standard BioTools stock. The stock was acquired at an average cost of $2.56 per share, with a total value of $901,304.32.
• On Wednesday, May 15th, Casdin Partners Master Fund, L bought 500,000 shares of Standard BioTools stock. The shares were purchased at an average cost of $2.57 per share, with a total value of $1,285,000.00.

Standard BioTools Price Performance

Shares of LAB opened at $1.67 on Friday. The firm’s 50 day moving average is $2.05 and its 200-day moving average is $2.37. The stock has a market capitalization of $618.60 million, a P/E ratio of -1.65 and a beta of 1.67. Standard BioTools Inc. has a 12-month low of $1.21 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). The business had revenue of $45.54 million during the quarter, compared to analyst estimates of $46.50 million. Standard BioTools had a negative return on equity of 88.47% and a negative net margin of 87.05%. As a group, equities research analysts forecast that Standard BioTools Inc. will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Standard BioTools

Hedge funds have recently made changes to their positions in the business. Freestone Capital Holdings LLC acquired a new position in shares of Standard BioTools in the 1st quarter worth approximately $31,000. Evolution Wealth Advisors LLC purchased a new position in shares of Standard BioTools in the first quarter worth approximately $33,000. Shell Asset Management Co. purchased a new position in shares of Standard BioTools in the first quarter worth approximately $39,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Standard BioTools in the second quarter worth approximately $39,000. Finally, Peak Asset Management LLC purchased a new position in shares of Standard BioTools in the first quarter worth approximately $46,000. Institutional investors and hedge funds 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.