Standard BioTools (NASDAQ:LAB) Now Covered by TD Cowen

TD Cowen initiated coverage on shares of Standard BioTools (NASDAQ:LAB) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $3.50 price objective on the stock.

Separately, Jefferies Financial Group initiated coverage on shares of Standard BioTools in a research report on Thursday, April 4th. They issued a buy rating and a $3.25 target price for the company.

Standard BioTools Stock Down 0.8 %

Shares of NASDAQ LAB opened at $2.52 on Tuesday. The firm has a 50-day simple moving average of $2.61 and a 200-day simple moving average of $2.32. The stock has a market capitalization of $731.10 million, a price-to-earnings ratio of -2.65 and a beta of 1.64. Standard BioTools has a 52 week low of $1.46 and a 52 week high of $3.16.

Standard BioTools (NASDAQ:LAB) last issued its earnings results on Wednesday, February 28th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates 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 expect that Standard BioTools will post -0.47 EPS for the current year.

Insider Buying and Selling

In other news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $2.57 per share, for a total transaction of $642,500.00. Following the completion of the transaction, the director now owns 11,496,525 shares in the company, valued at $29,546,069.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 53.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standard BioTools

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. acquired a new stake in shares of Standard BioTools during the third quarter valued at about $550,000. EAM Investors LLC acquired a new stake in shares of Standard BioTools during the third quarter valued at about $1,375,000. Acadian Asset Management LLC acquired a new stake in shares of Standard BioTools during the third quarter valued at about $50,000. Assenagon Asset Management S.A. acquired a new stake in shares of Standard BioTools during the fourth quarter valued at about $145,000. Finally, Jump Financial LLC purchased a new position in shares of Standard BioTools in the third quarter valued at approximately $94,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.

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.