Standard BioTools Inc. (NASDAQ:LAB) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Standard BioTools Inc. (NASDAQ:LAB) by 3,691.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,467 shares of the company’s stock after buying an additional 396,719 shares during the quarter. Rhumbline Advisers owned about 0.11% of Standard BioTools worth $721,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LAB. Principal Financial Group Inc. purchased a new position in Standard BioTools in the second quarter worth $57,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Standard BioTools by 184.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,330 shares of the company’s stock worth $89,000 after purchasing an additional 32,640 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Standard BioTools in the 2nd quarter valued at about $39,000. Bank of New York Mellon Corp lifted its stake in shares of Standard BioTools by 1,019.8% in the second quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company’s stock valued at $1,736,000 after purchasing an additional 893,383 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Standard BioTools by 20.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,642,271 shares of the company’s stock worth $18,837,000 after buying an additional 1,788,780 shares in the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Casdin Partners Master Fund, L bought 1,000,000 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $1.63 per share, for a total transaction of $1,630,000.00. Following the acquisition, the director now owns 47,730,821 shares in the company, valued at $77,801,238.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 5,117,508 shares of company stock worth $8,662,080 over the last ninety days. 53.10% of the stock is currently owned by insiders.

Standard BioTools Stock Performance

LAB opened at $1.97 on Wednesday. Standard BioTools Inc. has a one year low of $1.21 and a one year high of $3.04. The company has a market cap of $729.73 million, a price-to-earnings ratio of -1.95 and a beta of 1.58. The business’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.25.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.09) EPS for the quarter, topping the consensus estimate 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 business had revenue of $37.21 million for the quarter, compared to analyst estimates of $48.15 million. On average, analysts predict that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

About Standard BioTools

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.