SG Americas Securities LLC Raises Stock Position in Standard BioTools Inc. (NASDAQ:LAB)

SG Americas Securities LLC increased its position in shares of Standard BioTools Inc. (NASDAQ:LAB) by 109.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,257 shares of the company’s stock after acquiring an additional 52,970 shares during the quarter. SG Americas Securities LLC’s holdings in Standard BioTools were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LAB. Vanguard Group Inc. increased its position in shares of Standard BioTools by 215.3% in the 1st quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after acquiring an additional 8,900,104 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Standard BioTools during the 1st quarter valued at about $23,993,000. Swiss National Bank acquired a new position in shares of Standard BioTools in the first quarter valued at about $1,162,000. Rhumbline Advisers raised its stake in shares of Standard BioTools by 3,691.1% in the second quarter. Rhumbline Advisers now owns 407,467 shares of the company’s stock worth $721,000 after purchasing an additional 396,719 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Standard BioTools by 1,019.8% during the second quarter. Bank of New York Mellon Corp now owns 980,983 shares of the company’s stock worth $1,736,000 after purchasing an additional 893,383 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced 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.

Standard BioTools Stock Down 3.3 %

Shares of NASDAQ LAB opened at $1.78 on Thursday. The firm has a market cap of $659.35 million, a price-to-earnings ratio of -1.76 and a beta of 1.58. The company’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $2.14. Standard BioTools Inc. has a 52-week low of $1.21 and a 52-week high of $3.04.

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

Insider Buying and Selling at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $2.15 per share, for a total transaction of $322,500.00. Following the acquisition, the director now owns 53,775,821 shares in the company, valued at $115,618,015.15. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 5,117,508 shares of company stock worth $8,662,080 in the last ninety days. 53.10% of the stock is owned by insiders.

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.