Millennium Management LLC Sells 8,151,206 Shares of Standard BioTools Inc. (NASDAQ:LAB)

Millennium Management LLC lowered its position in Standard BioTools Inc. (NASDAQ:LAB) by 56.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,221,993 shares of the company’s stock after selling 8,151,206 shares during the period. Millennium Management LLC owned 1.68% of Standard BioTools worth $11,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Freestone Capital Holdings LLC purchased a new stake in shares of Standard BioTools in the 1st quarter worth about $31,000. Evolution Wealth Advisors LLC purchased a new stake in Standard BioTools in the first quarter worth about $33,000. Shell Asset Management Co. bought a new position in shares of Standard BioTools during the first quarter valued at approximately $39,000. Peak Asset Management LLC purchased a new position in shares of Standard BioTools during the first quarter valued at approximately $46,000. Finally, BNP Paribas Financial Markets boosted its holdings in Standard BioTools by 1,775,900.0% in the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock worth $48,000 after acquiring an additional 17,759 shares in the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Insider Buying and Selling at Standard BioTools

In other news, Director Casdin Partners Master Fund, L acquired 200,000 shares of Standard BioTools stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $1.58 per share, for a total transaction of $316,000.00. Following the completion of the transaction, the director now owns 47,930,821 shares in the company, valued at $75,730,697.18. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 5,117,508 shares of company stock worth $8,662,080. Insiders own 53.10% of the company’s stock.

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 report on Thursday, August 1st.

Standard BioTools Price Performance

Standard BioTools stock opened at $1.82 on Tuesday. Standard BioTools Inc. has a one year low of $1.21 and a one year high of $3.04. The business’s fifty day moving average is $1.91 and its 200 day moving average is $2.21. The stock has a market capitalization of $674.17 million, a PE ratio of -1.80 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $37.21 million during the quarter, compared to analyst estimates of $48.15 million. Standard BioTools had a negative net margin of 87.05% and a negative return on equity of 43.45%. As a group, sell-side analysts expect 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.