Standard BioTools (NASDAQ:LAB) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Standard BioTools (NASDAQ:LAB) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the company. TD Cowen decreased their price objective on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Zacks Research raised Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Standard BioTools has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Stock Performance

Shares of LAB opened at $1.13 on Friday. The firm has a market cap of $434.56 million, a price-to-earnings ratio of -5.65 and a beta of 1.29. Standard BioTools has a fifty-two week low of $0.92 and a fifty-two week high of $1.72. The firm has a 50 day moving average price of $1.35 and a 200-day moving average price of $1.33.

Standard BioTools (NASDAQ:LAB) last released its earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.08. The company had revenue of $23.80 million for the quarter, compared to analyst estimates of $18.50 million. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.20%. As a group, equities research analysts predict that Standard BioTools will post -0.29 earnings per share for the current year.

Insider Activity at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was bought at an average price of $1.45 per share, with a total value of $217,500.00. Following the completion of the purchase, the director directly owned 72,100,000 shares of the company’s stock, valued at $104,545,000. The trade was a 0.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 350,000 shares of company stock worth $503,000 in the last ninety days. 23.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in shares of Standard BioTools by 862.2% during the 1st 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 in the last quarter. Savant Capital LLC lifted its holdings in Standard BioTools by 199.3% in the second quarter. Savant Capital LLC now owns 56,957 shares of the company’s stock worth $68,000 after buying an additional 37,926 shares during the period. Geode Capital Management LLC boosted its position in Standard BioTools by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 7,441,134 shares of the company’s stock valued at $8,931,000 after acquiring an additional 235,677 shares in the last quarter. Creative Planning grew its holdings in shares of Standard BioTools by 56.6% during the 2nd quarter. Creative Planning now owns 61,102 shares of the company’s stock worth $73,000 after acquiring an additional 22,082 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of Standard BioTools by 6.1% in the 2nd quarter. Intech Investment Management LLC now owns 149,018 shares of the company’s stock worth $179,000 after acquiring an additional 8,519 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.

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.