Standard BioTools Inc. (NASDAQ:LAB) Sees Significant Drop in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 8,281,198 shares, a decrease of 18.5% from the February 26th total of 10,159,609 shares. Based on an average trading volume of 3,266,118 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.8% of the shares of the stock are sold short.

Standard BioTools Stock Down 0.2%

LAB traded down $0.00 during trading on Tuesday, reaching $0.92. The company’s stock had a trading volume of 1,863,339 shares, compared to its average volume of 2,592,098. The company has a market cap of $358.59 million, a price-to-earnings ratio of -4.60 and a beta of 1.36. The firm has a fifty day simple moving average of $1.15 and a two-hundred day simple moving average of $1.29. Standard BioTools has a 1 year low of $0.88 and a 1 year high of $1.72.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Standard BioTools had a negative return on equity of 11.21% and a negative net margin of 59.39%.The business had revenue of $23.80 million during the quarter, compared to analyst estimates of $18.50 million. As a group, equities analysts forecast that Standard BioTools will post -0.29 EPS for the current fiscal year.

Institutional Trading of Standard BioTools

Several institutional investors have recently made changes to their positions in LAB. Casdin Capital LLC grew its position in Standard BioTools by 14.5% in the fourth quarter. Casdin Capital LLC now owns 88,783,856 shares of the company’s stock worth $113,643,000 after acquiring an additional 11,225,000 shares during the period. Mak Capital One LLC lifted its stake in shares of Standard BioTools by 184.6% in the 3rd quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after purchasing an additional 10,334,384 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Standard BioTools by 133.0% in the 4th quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock valued at $4,336,000 after purchasing an additional 1,933,853 shares during the last quarter. Long Focus Capital Management LLC grew its holdings in shares of Standard BioTools by 12.8% during the 3rd quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock worth $14,772,000 after purchasing an additional 1,292,804 shares during the period. Finally, Kent Lake PR LLC acquired a new stake in shares of Standard BioTools during the 2nd quarter worth about $1,200,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on LAB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research report on Thursday, January 22nd. Zacks Research upgraded Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Finally, Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.