Standard BioTools (NASDAQ:LAB) Stock Price Down 2.4%

Shares of Standard BioTools Inc. (NASDAQ:LAB) fell 2.4% on Tuesday . The stock traded as low as $2.03 and last traded at $2.04. 84,135 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,602,962 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut their price target on Standard BioTools from $3.50 to $2.75 and set a “buy” rating for the company in a research note on Thursday, August 1st.

Standard BioTools Trading Up 1.5 %

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 price is $1.99 and its two-hundred day moving average price is $2.28.

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

Insiders Place Their Bets

In other news, Director Casdin Partners Master Fund, L purchased 200,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $1.58 per share, with a total value of $316,000.00. Following the completion of the transaction, the director now directly owns 47,930,821 shares in the company, valued at approximately $75,730,697.18. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 5,117,508 shares of company stock valued at $8,662,080 over the last 90 days. 53.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Several hedge funds and other institutional investors have recently made changes to their positions in LAB. Freestone Capital Holdings LLC bought a new stake in Standard BioTools during the 1st quarter valued at approximately $31,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Standard BioTools in the first quarter worth $33,000. Xponance Inc. acquired a new stake in shares of Standard BioTools in the second quarter worth $34,000. Shell Asset Management Co. bought a new position in Standard BioTools during the first quarter worth $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Standard BioTools in the 2nd quarter valued at $39,000. 53.74% of the stock is owned by institutional investors and hedge funds.

Standard BioTools Company 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.