Standard BioTools Inc. (NASDAQ:LAB) Sees Large Growth in Short Interest

Standard BioTools Inc. (NASDAQ:LAB) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 10,319,954 shares, a growth of 24.6% from the March 15th total of 8,281,198 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 1,846,849 shares, the days-to-cover ratio is currently 5.6 days.

Standard BioTools Price Performance

Standard BioTools stock traded down $0.05 during trading hours on Thursday, reaching $0.92. The stock had a trading volume of 2,483,752 shares, compared to its average volume of 2,134,609. The company has a market cap of $360.04 million, a price-to-earnings ratio of -4.61 and a beta of 1.42. The business’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.25. Standard BioTools has a 52 week low of $0.87 and a 52 week high of $1.72.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Standard BioTools had a negative return on equity of 11.21% and a negative net margin of 59.39%.The company had revenue of $23.80 million during the quarter, compared to analysts’ expectations of $18.50 million. On average, sell-side analysts forecast that Standard BioTools will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on LAB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Standard BioTools in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Standard BioTools from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.35.

Institutional Investors Weigh In On Standard BioTools

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Casdin Capital LLC raised its stake in Standard BioTools by 1.9% in the third quarter. Casdin Capital LLC now owns 77,558,856 shares of the company’s stock valued at $100,827,000 after buying an additional 1,483,220 shares during the last quarter. Mak Capital One LLC raised its stake in Standard BioTools by 184.6% in the third quarter. Mak Capital One LLC now owns 15,931,806 shares of the company’s stock valued at $20,711,000 after buying an additional 10,334,384 shares during the last quarter. Long Focus Capital Management LLC raised its stake in Standard BioTools by 12.8% in the third quarter. Long Focus Capital Management LLC now owns 11,362,804 shares of the company’s stock valued at $14,772,000 after buying an additional 1,292,804 shares during the last quarter. Federated Hermes Inc. raised its stake in Standard BioTools by 103.6% in the third quarter. Federated Hermes Inc. now owns 28,545 shares of the company’s stock valued at $37,000 after buying an additional 14,523 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Standard BioTools by 167.8% in the third quarter. SG Americas Securities LLC now owns 33,039 shares of the company’s stock valued at $43,000 after buying an additional 20,700 shares during the last quarter. 53.74% of the stock is currently owned by hedge funds and other institutional investors.

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.