Standard BioTools (NASDAQ:LAB) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Standard BioTools (NASDAQ:LAB) posted its earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06), FiscalAI reports. The business had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.80 million. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.89%.

Standard BioTools Stock Performance

Shares of Standard BioTools stock traded down $0.00 on Friday, reaching $0.80. The stock had a trading volume of 728,951 shares, compared to its average volume of 2,731,282. The business’s 50-day moving average price is $0.88 and its two-hundred day moving average price is $1.01. The stock has a market cap of $312.30 million, a P/E ratio of 3.64 and a beta of 1.40. Standard BioTools has a fifty-two week low of $0.70 and a fifty-two week high of $1.72.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Standard BioTools from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Standard BioTools presently has a consensus rating of “Reduce” and a consensus price target of $1.35.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cibc World Markets Corp bought a new stake in Standard BioTools during the fourth quarter valued at about $25,000. Aigen Investment Management LP acquired a new stake in shares of Standard BioTools in the fourth quarter valued at about $28,000. EntryPoint Capital LLC bought a new position in shares of Standard BioTools in the fourth quarter worth about $31,000. CIBC Asset Management Inc bought a new position in shares of Standard BioTools in the fourth quarter worth about $33,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Standard BioTools by 2,989.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after purchasing an additional 24,211 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

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.