Standard BioTools (NASDAQ:LAB) Raised to Hold at Wall Street Zen

Standard BioTools (NASDAQ:LAB) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Zacks Research upgraded shares of Standard BioTools to a “hold” rating in a research note on Thursday, December 11th. Finally, TD Cowen reduced their target price on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $1.35.

Standard BioTools Trading Down 3.4%

Shares of LAB opened at $1.13 on Friday. The company has a market capitalization of $434.56 million, a price-to-earnings ratio of -5.65 and a beta of 1.36. The stock has a 50 day moving average of $1.35 and a 200 day moving average of $1.33. Standard BioTools has a 12 month low of $0.92 and a 12 month high of $1.72.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. The business had revenue of $23.80 million for the quarter, compared to analyst estimates of $18.50 million. Standard BioTools had a negative return on equity of 11.20% and a negative net margin of 59.39%. As a group, equities research analysts predict that Standard BioTools will post -0.29 earnings per share for the current year.

Insider Activity at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were bought at an average cost of $1.45 per share, for a total transaction of $217,500.00. Following the purchase, the director owned 72,100,000 shares of the company’s stock, valued at $104,545,000. This represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 350,000 shares of company stock worth $503,000. Corporate insiders own 23.16% of the company’s stock.

Institutional Trading of Standard BioTools

Institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new position in Standard BioTools during the 4th quarter valued at about $25,000. Aigen Investment Management LP bought a new position in shares of Standard BioTools in the fourth quarter valued at approximately $28,000. M&T Bank Corp purchased a new position in Standard BioTools during the fourth quarter valued at approximately $31,000. EntryPoint Capital LLC bought a new stake in Standard BioTools during the 4th quarter worth approximately $31,000. Finally, Russell Investments Group Ltd. lifted its stake in Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after purchasing an additional 24,211 shares in the last quarter. Hedge funds and other institutional investors own 53.74% of the company’s stock.

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.