Standard BioTools Inc. (NASDAQ:LAB) Short Interest Update

Standard BioTools Inc. (NASDAQ:LAB) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 10,319,954 shares, a growth of 24.6% from the March 15th total of 8,281,198 shares. Based on an average daily trading volume, of 1,846,849 shares, the short-interest ratio is presently 5.6 days. Currently, 3.4% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts have recently commented on LAB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Standard BioTools from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Price Performance

Shares of NASDAQ:LAB traded up $0.01 during midday trading on Friday, hitting $0.93. 2,471,271 shares of the company’s stock were exchanged, compared to its average volume of 2,620,710. The stock has a 50 day moving average price of $1.01 and a 200-day moving average price of $1.25. The company has a market cap of $362.73 million, a PE ratio of -4.65 and a beta of 1.42. Standard BioTools has a 12 month low of $0.87 and a 12 month high of $1.72.

Standard BioTools (NASDAQ:LAB) last posted its earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.21%. The company had revenue of $23.80 million during the quarter, compared to the consensus estimate of $18.50 million. On average, analysts anticipate that Standard BioTools will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Standard BioTools by 50.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock worth $36,000 after purchasing an additional 9,986 shares in the last quarter. Deutsche Bank AG grew its position in Standard BioTools by 4.4% in the 4th quarter. Deutsche Bank AG now owns 255,851 shares of the company’s stock worth $327,000 after purchasing an additional 10,824 shares in the last quarter. Federated Hermes Inc. grew its position in Standard BioTools by 103.6% in the 3rd quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock worth $37,000 after purchasing an additional 14,523 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Standard BioTools by 9.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 172,134 shares of the company’s stock worth $221,000 after purchasing an additional 14,592 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Standard BioTools by 70.2% in the 2nd quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after purchasing an additional 15,470 shares in the last quarter. 53.74% of the stock is owned by institutional investors.

About Standard BioTools

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.