Standard BioTools Inc. (NASDAQ:LAB – Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 2,012,831 shares were traded during trading, a decline of 6% from the previous session’s volume of 2,141,355 shares.The stock last traded at $2.61 and had previously closed at $2.71.
Analyst Ratings Changes
LAB has been the topic of a number of research analyst reports. TD Cowen initiated coverage on shares of Standard BioTools in a report on Tuesday. They set a “buy” rating and a $3.50 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Standard BioTools in a report on Thursday, April 4th. They set a “buy” rating and a $3.25 price objective on the stock.
View Our Latest Research Report on Standard BioTools
Standard BioTools Trading Down 0.8 %
Standard BioTools (NASDAQ:LAB – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The business had revenue of $28.19 million during the quarter, compared to analyst estimates of $28.00 million. As a group, equities research analysts predict that Standard BioTools Inc. will post -0.47 earnings per share for the current year.
Insider Buying and Selling at Standard BioTools
In other news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $2.57 per share, with a total value of $642,500.00. Following the transaction, the director now directly owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 53.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Evolution Wealth Advisors LLC bought a new position in shares of Standard BioTools in the 1st quarter valued at about $33,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Standard BioTools during the 1st quarter worth about $23,993,000. Cannon Global Investment Management LLC bought a new stake in shares of Standard BioTools during the 1st quarter worth about $54,000. Schoolcraft Capital LLC bought a new stake in shares of Standard BioTools during the 1st quarter worth about $201,000. Finally, HBK Investments L P bought a new stake in shares of Standard BioTools during the 4th quarter worth about $333,000. Institutional investors own 53.74% of the company’s stock.
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.
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