Standard BioTools (NASDAQ:LAB) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Standard BioTools (NASDAQ:LAB) issued its earnings results on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08, FiscalAI reports. Standard BioTools had a negative net margin of 86.06% and a negative return on equity of 20.89%. The company had revenue of $23.80 million for the quarter, compared to analysts’ expectations of $18.50 million.

Standard BioTools Price Performance

LAB traded up $0.04 during trading on Tuesday, hitting $1.15. The stock had a trading volume of 1,258,760 shares, compared to its average volume of 1,477,581. The company has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.34. Standard BioTools has a one year low of $0.92 and a one year high of $1.72. The firm has a market cap of $442.26 million, a price-to-earnings ratio of -3.38 and a beta of 1.29.

Insider Buying and Selling at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L bought 150,000 shares of Standard BioTools stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of $1.45 per share, with a total value of $217,500.00. Following the completion of the transaction, the director owned 72,100,000 shares in the company, valued at $104,545,000. The trade was a 0.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 350,000 shares of company stock worth $503,000 over the last three months. 23.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Standard BioTools

A number of hedge funds have recently bought and sold shares of LAB. Cibc World Markets Corp bought a new position in shares of Standard BioTools in the 4th quarter valued at $25,000. Aigen Investment Management LP acquired a new stake in Standard BioTools in the fourth quarter valued at about $28,000. EntryPoint Capital LLC bought a new position in Standard BioTools in the fourth quarter valued at about $31,000. CIBC Asset Management Inc acquired a new position in Standard BioTools during the fourth quarter worth about $33,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Standard BioTools by 2,989.0% in the third quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after acquiring an additional 24,211 shares during the last quarter. 53.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen dropped their price objective on Standard BioTools from $1.55 to $1.35 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen lowered Standard BioTools from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a report on Thursday, December 11th. Three 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, the company currently has an average rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Company Profile

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.