Standard BioTools (NASDAQ:LAB) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Standard BioTools Inc. (NASDAQ:LAB)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $0.68 and traded as high as $0.7179. Standard BioTools shares last traded at $0.6942, with a volume of 730,105 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Standard BioTools in a research note on Wednesday, November 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Standard BioTools has an average rating of “Reduce”.

Standard BioTools Trading Up 9.2%

The stock has a market capitalization of $274.06 million, a price-to-earnings ratio of 3.16 and a beta of 1.52. The stock has a 50-day moving average price of $0.68 and a 200 day moving average price of $0.89.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Tuesday, November 3rd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. The business had revenue of $19.39 million during the quarter, compared to the consensus estimate of $18.80 million. Standard BioTools had a negative return on equity of 5.61% and a net margin of 157.62%.

Insider Buying and Selling at Standard BioTools

In other news, Director Thomas D. Carey bought 75,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were acquired at an average price of $0.63 per share, for a total transaction of $47,250.00. Following the completion of the transaction, the director directly owned 419,456 shares in the company, valued at $264,257.28. The trade was a 21.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Standard BioTools

A number of institutional investors and hedge funds have recently bought and sold shares of LAB. BlackRock Inc. acquired a new position in Standard BioTools during the second quarter worth $6,791,000. Sone Capital Management LLC purchased a new stake in shares of Standard BioTools in the 2nd quarter valued at approximately $1,755,000. GSA Capital Partners LLP acquired a new position in Standard BioTools during the second quarter worth $977,000. Man Group plc acquired a new position in Standard BioTools during the 2nd quarter worth about $611,000. Finally, Marquette Asset Management LLC purchased a new position in shares of Standard BioTools in the second quarter valued at approximately $268,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.