Standard BioTools (NASDAQ:LAB) Announces Earnings Results

Standard BioTools (NASDAQ:LAB) posted its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08, FiscalAI reports. The firm had revenue of $23.80 million during the quarter, compared to analysts’ expectations of $18.50 million. Standard BioTools had a negative net margin of 86.06% and a negative return on equity of 20.89%.

Standard BioTools Trading Up 3.6%

Shares of NASDAQ LAB traded up $0.04 during mid-day trading on Tuesday, reaching $1.15. 1,258,760 shares of the company’s stock were exchanged, compared to its average volume of 1,477,581. Standard BioTools has a twelve month low of $0.92 and a twelve month high of $1.72. The business has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.34. The firm has a market capitalization of $442.26 million, a price-to-earnings ratio of -3.38 and a beta of 1.29.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction that occurred on Thursday, December 4th. The stock was purchased at an average cost of $1.45 per share, with a total value of $217,500.00. Following the purchase, the director owned 72,100,000 shares in the company, valued at approximately $104,545,000. This trade represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have acquired 350,000 shares of company stock valued at $503,000. Insiders own 23.16% of the company’s stock.

Institutional Trading of Standard BioTools

A number of hedge funds and other institutional investors have recently modified their holdings of LAB. AQR Capital Management LLC boosted its position in Standard BioTools by 862.2% during the first quarter. AQR Capital Management LLC now owns 482,912 shares of the company’s stock valued at $522,000 after purchasing an additional 432,725 shares during the last quarter. Creative Planning boosted its holdings in shares of Standard BioTools by 56.6% in the 2nd quarter. Creative Planning now owns 61,102 shares of the company’s stock valued at $73,000 after buying an additional 22,082 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Standard BioTools by 25.7% in the second quarter. Legal & General Group Plc now owns 310,435 shares of the company’s stock valued at $373,000 after buying an additional 63,484 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Standard BioTools by 14.6% in the second quarter. Rhumbline Advisers now owns 472,981 shares of the company’s stock valued at $568,000 after buying an additional 60,220 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Standard BioTools by 72.7% during the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock worth $47,000 after buying an additional 16,541 shares during the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LAB shares. Zacks Research raised Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. TD Cowen dropped their price target on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $1.35.

About Standard BioTools

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.