Primecap Management Co. CA Has $5.33 Million Position in Standard BioTools Inc. (NASDAQ:LAB)

Primecap Management Co. CA decreased its holdings in Standard BioTools Inc. (NASDAQ:LAB) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,008,643 shares of the company’s stock after selling 13,200 shares during the quarter. Primecap Management Co. CA owned 0.81% of Standard BioTools worth $5,325,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jump Financial LLC lifted its position in shares of Standard BioTools by 117.2% during the 4th quarter. Jump Financial LLC now owns 70,480 shares of the company’s stock worth $156,000 after buying an additional 38,030 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Standard BioTools during the fourth quarter valued at $55,000. Parkman Healthcare Partners LLC boosted its stake in shares of Standard BioTools by 20.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 603,620 shares of the company’s stock valued at $1,334,000 after purchasing an additional 103,620 shares in the last quarter. HBK Investments L P bought a new stake in shares of Standard BioTools in the 4th quarter worth about $333,000. Finally, Schoolcraft Capital LLC acquired a new stake in shares of Standard BioTools during the 1st quarter worth about $201,000. 53.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen decreased their price objective on shares of Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock in a research note on Thursday, August 1st.

Standard BioTools Stock Performance

Standard BioTools stock opened at $2.03 on Thursday. Standard BioTools Inc. has a 52 week low of $1.21 and a 52 week high of $3.05. The firm has a market cap of $751.95 million, a P/E ratio of -2.01 and a beta of 1.58. The business’s fifty day moving average is $1.99 and its two-hundred day moving average is $2.28.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 43.45%. The firm had revenue of $37.21 million for the quarter, compared to analyst estimates of $48.15 million. On average, equities research analysts predict that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L acquired 1,000,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $1.63 per share, for a total transaction of $1,630,000.00. Following the transaction, the director now owns 47,730,821 shares of the company’s stock, valued at $77,801,238.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 5,117,508 shares of company stock worth $8,662,080 in the last quarter. Insiders own 53.10% of the company’s stock.

Standard BioTools 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.