Standard BioTools (NASDAQ:LAB) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Standard BioTools (NASDAQ:LAB) issued its quarterly earnings results on Tuesday. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05, FiscalAI reports. Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%. The business had revenue of $19.39 million for the quarter, compared to analysts’ expectations of $18.80 million.

Standard BioTools Trading Up 0.1%

Shares of LAB traded up $0.00 during mid-day trading on Tuesday, hitting $0.61. The company’s stock had a trading volume of 1,265,622 shares, compared to its average volume of 2,294,128. The company’s 50-day moving average is $0.68 and its 200-day moving average is $0.92. Standard BioTools has a 52-week low of $0.59 and a 52-week high of $1.72. The firm has a market capitalization of $241.09 million, a price-to-earnings ratio of 2.78 and a beta of 1.36.

Wall Street Analysts Forecast Growth

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

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology.

The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.