Standard BioTools (NASDAQ:LAB) Issues Earnings Results

Standard BioTools (NASDAQ:LAB) announced its earnings results on Tuesday. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.35, FiscalAI reports. The business had revenue of $21.15 million during the quarter, compared to analyst estimates of $17.80 million. Standard BioTools had a negative net margin of 59.39% and a negative return on equity of 11.21%.

Standard BioTools Trading Up 4.7%

Shares of NASDAQ:LAB traded up $0.04 during midday trading on Tuesday, hitting $0.98. The company had a trading volume of 2,161,237 shares, compared to its average volume of 3,321,972. Standard BioTools has a 12-month low of $0.87 and a 12-month high of $1.72. The company has a fifty day moving average of $0.97 and a two-hundred day moving average of $1.22.

Institutional Investors Weigh In On Standard BioTools

A number of institutional investors have recently bought and sold shares of LAB. Creative Planning boosted its stake in shares of Standard BioTools by 56.6% in the second quarter. Creative Planning now owns 61,102 shares of the company’s stock worth $73,000 after acquiring an additional 22,082 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Standard BioTools in the 4th quarter worth approximately $65,000. Boothbay Fund Management LLC bought a new position in Standard BioTools in the 3rd quarter worth approximately $48,000. Prudential Financial Inc. grew its holdings in Standard BioTools by 72.7% during the 2nd quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock valued at $47,000 after buying an additional 16,541 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Standard BioTools by 70.2% during the second quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock valued at $45,000 after buying an additional 15,470 shares during the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on LAB. Weiss Ratings upgraded shares of Standard BioTools from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Standard BioTools has an average rating of “Reduce” and a consensus price target of $1.35.

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.