Standard BioTools (NASDAQ:LAB) Trading Down 4.7%

Standard BioTools Inc. (NASDAQ:LAB)’s stock price traded down 4.7% on Tuesday . The company traded as low as $1.51 and last traded at $1.52. 71,267 shares changed hands during trading, a decline of 97% from the average session volume of 2,668,151 shares. The stock had previously closed at $1.59.

Analysts Set New Price Targets

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

Standard BioTools Stock Performance

The stock’s fifty day moving average is $2.13 and its two-hundred day moving average is $2.39. The firm has a market capitalization of $576.00 million, a price-to-earnings ratio of -1.57 and a beta of 1.67.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). The business had revenue of $45.54 million during the quarter, compared to analyst estimates of $46.50 million. Standard BioTools had a negative return on equity of 88.47% and a negative net margin of 87.05%. Sell-side analysts anticipate that Standard BioTools Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Standard BioTools

In related news, Director Casdin Partners Master Fund, L bought 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $2.58 per share, with a total value of $387,000.00. Following the completion of the transaction, the director now owns 45,975,821 shares of the company’s stock, valued at approximately $118,617,618.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 1,102,072 shares of company stock worth $2,831,304 over the last ninety days. 53.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Standard BioTools

Hedge funds have recently made changes to their positions in the business. Freestone Capital Holdings LLC bought a new stake in shares of Standard BioTools during the first quarter worth about $31,000. Evolution Wealth Advisors LLC bought a new stake in Standard BioTools during the first quarter worth $33,000. Shell Asset Management Co. bought a new stake in Standard BioTools during the first quarter worth $39,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Standard BioTools during the second quarter worth $39,000. Finally, Peak Asset Management LLC bought a new stake in Standard BioTools during the first quarter worth $46,000. 53.74% of the stock is owned by institutional investors.

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.