Standard BioTools (NASDAQ:LAB) Trading 5.9% Higher - Time to Buy?

Standard BioTools Inc. (NASDAQ:LAB - Get Free Report) traded up 5.9% during trading on Tuesday . The stock traded as high as $1.81 and last traded at $1.80. 767,392 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,425,021 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price objective on shares of Standard BioTools from $3.50 to $2.75 and set a "buy" rating for the company in a research note on Thursday, August 1st.

Standard BioTools Stock Performance

The company's fifty day simple moving average is $1.93 and its two-hundred day simple moving average is $2.11. The stock has a market capitalization of $648.24 million, a PE ratio of -1.73 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.09) 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 net margin of 87.05% and a negative return on equity of 43.45%. Sell-side analysts forecast that Standard BioTools Inc. will post -0.42 EPS for the current fiscal year.

Insider Transactions at Standard BioTools

In other news, Director Casdin Partners Master Fund, L purchased 1,000,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $1.63 per share, for a total transaction of $1,630,000.00. Following the completion of the acquisition, the director now directly owns 47,730,821 shares in the company, valued at $77,801,238.23. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 5,117,508 shares of company stock worth $8,662,080 over the last ninety days. 53.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Standard BioTools

Institutional investors have recently bought and sold shares of the stock. Freestone Capital Holdings LLC purchased a new stake in Standard BioTools in the first quarter valued at approximately $31,000. Evolution Wealth Advisors LLC purchased a new stake in Standard BioTools in the first quarter valued at approximately $33,000. Shell Asset Management Co. purchased a new stake in Standard BioTools in the first quarter valued at approximately $39,000. Peak Asset Management LLC acquired a new position in Standard BioTools during the first quarter valued at approximately $46,000. Finally, BNP Paribas Financial Markets lifted its position in Standard BioTools by 1,775,900.0% during the first quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company's stock valued at $48,000 after buying an additional 17,759 shares in the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

About Standard BioTools

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.