Standard BioTools (NASDAQ:LAB) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Standard BioTools (NASDAQ:LAB) announced its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08, FiscalAI reports. The company had revenue of $23.80 million for the quarter, compared to analysts’ expectations of $18.50 million. Standard BioTools had a negative return on equity of 11.20% and a negative net margin of 59.39%.

Standard BioTools Price Performance

Shares of LAB stock traded up $0.02 during mid-day trading on Thursday, hitting $1.19. The company had a trading volume of 545,423 shares, compared to its average volume of 1,466,482. The stock’s 50 day moving average price is $1.37 and its 200-day moving average price is $1.34. Standard BioTools has a 52-week low of $0.92 and a 52-week high of $1.72. The company has a market capitalization of $459.18 million, a P/E ratio of -5.92 and a beta of 1.29.

Insider Transactions at Standard BioTools

In related news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were acquired at an average price of $1.45 per share, for a total transaction of $217,500.00. Following the purchase, the director directly owned 72,100,000 shares in the company, valued at $104,545,000. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 350,000 shares of company stock valued at $503,000. Insiders own 23.16% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in Standard BioTools by 56.6% during the 2nd quarter. Creative Planning now owns 61,102 shares of the company’s stock valued at $73,000 after buying an additional 22,082 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Standard BioTools in the 4th quarter worth about $65,000. Boothbay Fund Management LLC bought a new stake in Standard BioTools during the 3rd quarter valued at about $48,000. Prudential Financial Inc. increased its position in shares of Standard BioTools by 72.7% during the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock worth $47,000 after acquiring an additional 16,541 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Standard BioTools by 70.2% during the second quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after acquiring an additional 15,470 shares during the period. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LAB has been the topic of a number of analyst reports. TD Cowen lowered their price objective on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen downgraded shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $1.35.

About Standard BioTools

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.