Standard BioTools (NASDAQ:LAB) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Standard BioTools (NASDAQ:LAB) from a hold rating to a sell rating in a research report released on Sunday morning.

Other equities analysts also recently issued reports about the stock. Zacks Research raised shares of Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.35.

Standard BioTools Trading Down 3.0%

LAB opened at $0.99 on Friday. The stock’s 50 day simple moving average is $1.31 and its 200-day simple moving average is $1.33. The stock has a market cap of $380.65 million, a PE ratio of -4.95 and a beta of 1.36. Standard BioTools has a 1 year low of $0.92 and a 1 year high of $1.72.

Standard BioTools (NASDAQ:LAB) last issued its earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Standard BioTools had a negative return on equity of 11.20% and a negative net margin of 59.39%.The firm had revenue of $23.80 million during the quarter, compared to analysts’ expectations of $18.50 million. Equities analysts forecast that Standard BioTools will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Standard BioTools

Several large investors have recently made changes to their positions in LAB. Cibc World Markets Corp acquired a new stake in shares of Standard BioTools during the 4th quarter worth about $25,000. Aigen Investment Management LP bought a new stake in Standard BioTools during the fourth quarter worth about $28,000. M&T Bank Corp bought a new stake in Standard BioTools during the fourth quarter worth about $31,000. EntryPoint Capital LLC acquired a new stake in shares of Standard BioTools during the fourth quarter worth approximately $31,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of 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 in the last quarter. Institutional investors own 53.74% of the company’s stock.

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.