Standard BioTools (NASDAQ:LAB) Director Buys $47,250.00 in Stock

Standard BioTools Inc. (NASDAQ:LAB) Director Thomas Carey purchased 75,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average price of $0.63 per share, with a total value of $47,250.00. Following the completion of the transaction, the director directly owned 419,456 shares of the company’s stock, valued at $264,257.28. This represents a 21.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Standard BioTools Stock Performance

NASDAQ LAB opened at $0.64 on Friday. The business has a fifty day moving average price of $0.68 and a 200 day moving average price of $0.90. Standard BioTools Inc. has a one year low of $0.59 and a one year high of $1.72. The company has a market cap of $251.09 million, a P/E ratio of 2.89 and a beta of 1.52.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Tuesday, November 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.05. Standard BioTools had a net margin of 157.62% and a negative return on equity of 5.61%. The company had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $18.80 million.

Institutional Trading of Standard BioTools

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Standard BioTools during the 2nd quarter valued at approximately $42,000. Rangeley Capital LLC purchased a new position in Standard BioTools in the first quarter worth approximately $46,000. Engineers Gate Manager LP acquired a new stake in Standard BioTools during the second quarter worth $56,000. State of Wyoming acquired a new stake in Standard BioTools during the second quarter worth $62,000. Finally, Bank of New York Mellon Corp acquired a new stake in Standard BioTools during the second quarter worth $74,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Standard BioTools in a research note on Wednesday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Standard BioTools presently has a consensus rating of “Reduce”.

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.