Standard BioTools (NASDAQ:LAB) Stock Price Down 4% – Time to Sell?

Shares of Standard BioTools Inc. (NASDAQ:LAB) were down 4% during mid-day trading on Monday . The stock traded as low as $1.81 and last traded at $1.81. Approximately 76,267 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,486,357 shares. The stock had previously closed at $1.89.

Wall Street Analysts Forecast Growth

Separately, TD Cowen dropped their price target on Standard BioTools from $3.50 to $2.75 and set a “buy” rating on the stock in a report on Thursday, August 1st.

Standard BioTools Stock Performance

The stock’s 50-day moving average price is $1.91 and its two-hundred day moving average price is $2.17. The stock has a market capitalization of $700.10 million, a P/E ratio of -1.87 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last released its earnings results on Wednesday, July 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. The business had revenue of $37.21 million during the quarter, compared to the consensus estimate of $48.15 million. On average, equities research analysts predict that Standard BioTools Inc. will post -0.42 earnings per share for the current year.

Insider Activity 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 Monday, August 26th. The stock was purchased at an average price of $2.15 per share, for a total transaction of $322,500.00. Following the completion of the purchase, the director now directly owns 53,775,821 shares of the company’s stock, valued at approximately $115,618,015.15. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have bought 5,117,508 shares of company stock worth $8,662,080. Company insiders own 53.10% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of large investors have recently made changes to their positions in LAB. Schoolcraft Capital LLC purchased a new stake in Standard BioTools during the 1st quarter worth about $201,000. Cannon Global Investment Management LLC bought a new position in shares of Standard BioTools in the first quarter valued at approximately $54,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Standard BioTools during the first quarter valued at approximately $23,993,000. Evolution Wealth Advisors LLC bought a new stake in Standard BioTools during the 1st quarter worth approximately $33,000. Finally, BNP Paribas Financial Markets lifted its stake in Standard BioTools by 1,775,900.0% in the 1st quarter. BNP Paribas Financial Markets now owns 17,760 shares of the company’s stock worth $48,000 after purchasing an additional 17,759 shares in the last quarter. 53.74% of the stock is owned by 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.