Standard BioTools (NASDAQ:LAB) Sees Strong Trading Volume

Standard BioTools Inc. (NASDAQ:LAB) saw unusually-strong trading volume on Wednesday . Approximately 2,012,831 shares were traded during mid-day trading, a decline of 6% from the previous session’s volume of 2,141,355 shares.The stock last traded at $2.61 and had previously closed at $2.71.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LAB shares. Jefferies Financial Group started 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 on the stock. TD Cowen started coverage on shares of Standard BioTools in a research report on Tuesday. They issued a “buy” rating and a $3.50 target price on the stock.

Standard BioTools Stock Performance

The stock’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $2.32. The stock has a market capitalization of $731.10 million, a PE ratio of -2.68 and a beta of 1.64.

Standard BioTools (NASDAQ:LAB) last posted its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company had revenue of $28.19 million for the quarter, compared to the consensus estimate of $28.00 million. On average, analysts predict that Standard BioTools Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $2.57 per share, with a total value of $642,500.00. Following the acquisition, the director now directly owns 11,496,525 shares in the company, valued at approximately $29,546,069.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 53.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Standard BioTools

Institutional investors have recently added to or reduced their stakes in the stock. SMH Capital Advisors Inc. purchased a new position in shares of Standard BioTools in the fourth quarter valued at $26,000. Jane Street Group LLC purchased a new position in shares of Standard BioTools in the third quarter valued at $28,000. Marshall Wace LLP purchased a new position in shares of Standard BioTools in the second quarter valued at $31,000. Evolution Wealth Advisors LLC purchased a new position in shares of Standard BioTools in the first quarter valued at $33,000. Finally, Walleye Capital LLC purchased a new position in shares of Standard BioTools in the second quarter valued at $40,000. 53.74% of the stock is owned by hedge funds and other institutional investors.

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.