Short Interest in Standard BioTools Inc. (NASDAQ:LAB) Decreases By 17.8%

Standard BioTools Inc. (NASDAQ:LAB) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totaling 8,479,342 shares, a decrease of 17.8% from the March 31st total of 10,319,954 shares. Based on an average trading volume of 3,556,516 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.8% of the shares of the stock are short sold.

Standard BioTools Price Performance

Shares of NASDAQ:LAB traded up $0.00 during midday trading on Friday, reaching $0.93. The company’s stock had a trading volume of 2,218,631 shares, compared to its average volume of 3,203,087. Standard BioTools has a fifty-two week low of $0.87 and a fifty-two week high of $1.72. The company has a market capitalization of $363.82 million, a P/E ratio of -4.66 and a beta of 1.32. The business’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.23.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Tuesday, February 24th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Standard BioTools had a negative return on equity of 11.21% and a negative net margin of 59.39%.The company had revenue of $23.80 million during the quarter, compared to analyst estimates of $18.50 million. On average, analysts forecast that Standard BioTools will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LAB. Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings upgraded Standard BioTools from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $1.35.

Hedge Funds Weigh In On Standard BioTools

Several hedge funds have recently added to or reduced their stakes in LAB. Cibc World Markets Corp bought a new position in Standard BioTools in the fourth quarter valued at about $25,000. Aigen Investment Management LP bought a new position in Standard BioTools in the fourth quarter valued at about $28,000. M&T Bank Corp bought a new position in Standard BioTools in the fourth quarter valued at about $31,000. EntryPoint Capital LLC bought a new position in Standard BioTools during the fourth quarter worth about $31,000. Finally, Russell Investments Group Ltd. boosted its holdings in Standard BioTools by 2,989.0% during the third quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after buying an additional 24,211 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.