Standard BioTools (NASDAQ:LAB) Trading Down 4.5%

Standard BioTools Inc. (NASDAQ:LAB) shares traded down 4.5% during mid-day trading on Monday . The company traded as low as $1.91 and last traded at $1.92. 165,318 shares changed hands during trading, a decline of 94% from the average session volume of 2,594,029 shares. The stock had previously closed at $2.01.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lowered 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 Down 6.5 %

The firm’s fifty day moving average price is $1.99 and its 200-day moving average price is $2.27. The company has a market cap of $696.39 million, a price-to-earnings ratio of -1.99 and a beta of 1.58.

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

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L bought 1,000,000 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 5,117,508 shares of company stock valued at $8,662,080. 53.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Standard BioTools

A number of large investors have recently modified their holdings of the business. Maven Securities LTD bought a new position in shares of Standard BioTools in the second quarter valued at $177,000. Algert Global LLC acquired a new position in shares of Standard BioTools during the 2nd quarter worth about $44,000. The Manufacturers Life Insurance Company bought a new stake in shares of Standard BioTools in the 2nd quarter valued at about $208,000. AQR Capital Management LLC raised its holdings in shares of Standard BioTools by 283.5% in the 2nd quarter. AQR Capital Management LLC now owns 243,237 shares of the company’s stock valued at $431,000 after purchasing an additional 179,817 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in Standard BioTools by 130.1% in the 2nd quarter. Squarepoint Ops LLC now owns 305,516 shares of the company’s stock valued at $541,000 after purchasing an additional 172,738 shares during the last quarter. 53.74% of the stock is currently 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.