Standard BioTools (NASDAQ:LAB) Issues Earnings Results

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

Standard BioTools Stock Up 3.6%

LAB traded up $0.04 on Tuesday, hitting $1.15. The company’s stock had a trading volume of 1,273,711 shares, compared to its average volume of 1,484,729. Standard BioTools has a 12 month low of $0.92 and a 12 month high of $1.72. The firm has a market cap of $442.26 million, a P/E ratio of -3.38 and a beta of 1.29. The company’s 50 day simple moving average is $1.39 and its 200-day simple moving average is $1.34.

Wall Street Analyst Weigh In

LAB has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Zacks Research raised shares of Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. TD Cowen reduced their target price on Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a 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 investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $1.35.

Insider Activity

In related news, Director Casdin Partners Master Fund, L purchased 150,000 shares of Standard BioTools stock in a transaction dated Thursday, December 4th. The stock was bought at an average cost of $1.45 per share, for a total transaction of $217,500.00. Following the completion of the transaction, the director owned 72,100,000 shares in the company, valued at $104,545,000. This trade represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 350,000 shares of company stock worth $503,000 in the last quarter. Corporate insiders own 23.16% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of large investors have recently modified their holdings of the company. Cibc World Markets Corp purchased a new stake in Standard BioTools in the 4th quarter worth approximately $25,000. Aigen Investment Management LP bought a new stake in Standard BioTools during the fourth quarter valued at $28,000. EntryPoint Capital LLC purchased a new position in Standard BioTools during the fourth quarter worth about $31,000. CIBC Asset Management Inc bought a new position in Standard BioTools in the 4th quarter worth about $33,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after acquiring an additional 24,211 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.

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.