Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) was down 4% on Monday . The stock traded as low as $1.81 and last traded at $1.81. Approximately 76,267 shares were traded during trading, a decline of 97% from the average daily volume of 2,486,357 shares. The stock had previously closed at $1.89.
Separately, TD Cowen decreased their target price on Standard BioTools from $3.50 to $2.75 and set a "buy" rating for the company in a research report on Thursday, August 1st.
Read Our Latest Stock Analysis on Standard BioTools
The business has a 50-day simple moving average of $1.90 and a two-hundred day simple moving average of $2.18. The company has a market capitalization of $694.54 million, a price-to-earnings ratio of -1.87 and a beta of 1.58.
Standard BioTools (NASDAQ:LAB - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The business had revenue of $37.21 million during the quarter, compared to the consensus estimate of $48.15 million. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. Research analysts predict that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.
In other news, Director Casdin Partners Master Fund, L acquired 500,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $1.57 per share, with a total value of $785,000.00. Following the purchase, the director now directly owns 48,430,821 shares of the company's stock, valued at approximately $76,036,388.97. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders acquired 5,117,508 shares of company stock valued at $8,662,080. Corporate insiders own 53.10% of the company's stock.
Several hedge funds have recently bought and sold shares of the stock. Freestone Capital Holdings LLC purchased a new position in Standard BioTools in the 1st quarter valued at about $31,000. Evolution Wealth Advisors LLC purchased a new position in Standard BioTools in the 1st quarter valued at about $33,000. Xponance Inc. purchased a new position in Standard BioTools in the 2nd quarter valued at about $34,000. Shell Asset Management Co. purchased a new position in Standard BioTools in the 1st quarter valued at about $39,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Standard BioTools during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 53.74% of the company's stock.
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.
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