Standard BioTools (NASDAQ:LAB) Shares Up 2.3% – Should You Buy?

Standard BioTools Inc. (NASDAQ:LAB)’s stock price shot up 2.3% during mid-day trading on Monday. The company traded as high as $0.6499 and last traded at $0.6433. 414,669 shares traded hands during trading, a decline of 53% from the average daily volume of 875,022 shares. The stock had previously closed at $0.6290.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Standard BioTools has a consensus rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Price Performance

The firm has a market capitalization of $253.61 million, a PE ratio of 2.96 and a beta of 1.36. The company’s fifty day simple moving average is $0.69 and its 200 day simple moving average is $0.84.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $20.80 million. Standard BioTools had a negative return on equity of 7.57% and a net margin of 100.36%.

Institutional Investors Weigh In On Standard BioTools

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Standard BioTools in the 2nd quarter worth approximately $6,791,000. Sone Capital Management LLC bought a new stake in shares of Standard BioTools in the 2nd quarter worth about $1,755,000. GSA Capital Partners LLP purchased a new position in shares of Standard BioTools during the second quarter valued at approximately $977,000. Man Group plc bought a new stake in shares of Standard BioTools during the second quarter worth $611,000. Finally, Staley Capital Advisers Inc. bought a new position in Standard BioTools in the first quarter worth approximately $581,000. Institutional investors own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools Inc (NASDAQ:LAB) develops and supplies technologies, instruments and consumables used in biomedical research. Its products are designed to help researchers analyze cells, proteins, genes and other biological systems, supporting applications in immunology, oncology, drug discovery and precision medicine.

The company’s offerings include mass cytometry systems, which measure numerous cellular markers simultaneously; imaging mass cytometry platforms for analyzing biomarkers within tissue samples; and microfluidic tools for genomic and single-cell analysis.