Standard BioTools (NASDAQ:LAB) Stock Price Down 1.7% – What’s Next?

Standard BioTools Inc. (NASDAQ:LAB)’s stock price dropped 1.7% during trading on Monday. The company traded as low as $0.7206 and last traded at $0.7273. 478,990 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 1,399,853 shares. The stock had previously closed at $0.7399.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $1.35.

Standard BioTools Trading Up 2.5%

The firm has a market capitalization of $286.98 million, a price-to-earnings ratio of 3.31 and a beta of 1.37. The stock’s 50 day moving average price is $0.74 and its two-hundred day moving average price is $0.86.

Standard BioTools (NASDAQ:LAB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $20.10 million during the quarter, compared to analyst estimates of $20.80 million. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%.

Institutional Investors Weigh In On Standard BioTools

Several institutional investors have recently modified their holdings of LAB. Engineers Gate Manager LP purchased a new stake in Standard BioTools during the second quarter worth $56,000. Squarepoint Ops LLC purchased a new stake in shares of Standard BioTools in the 2nd quarter worth about $228,000. HighTower Advisors LLC grew its stake in Standard BioTools by 552.5% in the 2nd quarter. HighTower Advisors LLC now owns 355,581 shares of the company’s stock valued at $293,000 after acquiring an additional 301,090 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Standard BioTools during the 2nd quarter valued at about $219,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Standard BioTools during the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.

About Standard BioTools

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies used to advance biomedical research, with a focus on single-cell analysis, spatial biology and proteomics. Its products are designed to help researchers characterize cells, tissues and biological samples at high resolution for applications including immunology, oncology, infectious disease research and drug development.

The company’s portfolio includes mass cytometry systems and reagents sold under the CyTOF and Maxpar brands, as well as imaging technologies for analyzing the spatial distribution of proteins and other biomarkers in tissue samples.