Standard BioTools (NASDAQ:LAB) Trading Up 6.4%

Standard BioTools Inc. (NASDAQ:LAB) shares shot up 6.4% during trading on Wednesday . The stock traded as high as $1.78 and last traded at $1.76. 3,064,258 shares changed hands during mid-day trading, an increase of 32% from the average session volume of 2,320,072 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

Several research firms have recently commented on LAB. TD Cowen began coverage on Standard BioTools in a report on Tuesday, April 16th. They issued a “buy” rating and a $3.50 price target for the company. Jefferies Financial Group began coverage on Standard BioTools in a report on Thursday, April 4th. They issued a “buy” rating and a $3.25 price target for the company.

Standard BioTools Stock Up 4.2 %

The firm has a fifty day moving average of $2.40 and a 200-day moving average of $2.41. The stock has a market capitalization of $637.12 million, a price-to-earnings ratio of -1.73 and a beta of 1.66.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). The firm had revenue of $45.54 million for the quarter, compared to analyst estimates of $46.50 million. Standard BioTools had a negative return on equity of 144.74% and a negative net margin of 70.98%. As a group, research analysts forecast that Standard BioTools Inc. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L purchased 352,072 shares of the company’s stock in a transaction on Friday, May 17th. The stock was bought at an average price of $2.56 per share, with a total value of $901,304.32. Following the completion of the transaction, the director now owns 45,375,821 shares of the company’s stock, valued at approximately $116,162,101.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders bought 1,102,072 shares of company stock valued at $2,831,304. 53.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Standard BioTools

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Standard BioTools by 215.3% in the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after purchasing an additional 8,900,104 shares during the period. Nikko Asset Management Americas Inc. purchased a new stake in shares of Standard BioTools in the first quarter valued at $23,993,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Standard BioTools in the first quarter valued at $23,993,000. Nan Fung Group Holdings Ltd purchased a new stake in shares of Standard BioTools in the first quarter valued at $5,103,000. Finally, Hollow Brook Wealth Management LLC grew its position in shares of Standard BioTools by 5.0% in the fourth quarter. Hollow Brook Wealth Management LLC now owns 1,874,405 shares of the company’s stock valued at $4,142,000 after purchasing an additional 88,648 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools Inc, together with its subsidiaries, provides instruments, consumables, reagents, and software services for researchers and clinical laboratories in the Americas, Europe, the Middle East, Africa, and the Asia pacific. It operates through two segments: Proteomics and Genomics. The company offers analytical systems, such as CyTOF XT System, a CyTOF XT mass cytometry system performs automated high-parameter single-cell analysis using antibodies conjugated to metal isotopes; and Hyperion XTi imaging system, a spatial biology instrument.