Standard BioTools Inc. (NASDAQ:LAB) Sees Significant Drop in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) was the target of a large decrease in short interest during the month of 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. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 3,556,516 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Standard BioTools from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $1.35.

Institutional Trading of Standard BioTools

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cibc World Markets Corp acquired a new stake in Standard BioTools during the 4th quarter valued at approximately $25,000. Aigen Investment Management LP bought a new position in Standard BioTools during the fourth quarter worth $28,000. M&T Bank Corp bought a new position in Standard BioTools during the fourth quarter worth $31,000. EntryPoint Capital LLC bought a new position in Standard BioTools during the fourth quarter worth $31,000. Finally, Russell Investments Group Ltd. raised its stake 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 and hedge funds own 53.74% of the company’s stock.

Standard BioTools Stock Up 0.4%

Shares of LAB stock traded up $0.00 during trading hours on Friday, hitting $0.93. 2,218,631 shares of the company’s stock traded hands, compared to its average volume of 3,203,087. The stock’s 50 day simple moving average is $0.97 and its 200 day simple moving average is $1.23. The stock has a market cap of $363.82 million, a PE ratio of -4.66 and a beta of 1.32. Standard BioTools has a 12 month low of $0.87 and a 12 month high of $1.72.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08. The firm had revenue of $23.80 million during the quarter, compared to the consensus estimate of $18.50 million. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.21%. As a group, equities research analysts expect that Standard BioTools will post -0.1 EPS for the current fiscal year.

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.