TD Cowen Lowers Standard BioTools (NASDAQ:LAB) Price Target to $2.50

Standard BioTools (NASDAQ:LAB) had its price objective cut by equities research analysts at TD Cowen from $2.75 to $2.50 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 25.63% from the company’s previous close.

Standard BioTools Trading Up 1.5 %

Standard BioTools stock opened at $1.99 on Thursday. Standard BioTools has a 12 month low of $1.21 and a 12 month high of $3.04. The stock has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $2.10. The firm has a market cap of $738.59 million, a price-to-earnings ratio of -2.80 and a beta of 1.58.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. The company had revenue of $44.97 million during the quarter, compared to the consensus estimate of $42.00 million. Standard BioTools had a negative return on equity of 30.85% and a negative net margin of 79.92%. On average, equities research analysts forecast that Standard BioTools will post -0.42 EPS for the current fiscal year.

Insider Activity at Standard BioTools

In other news, Director Casdin Partners Master Fund, L purchased 500,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $1.57 per share, for a total transaction of $785,000.00. Following the purchase, the director now directly owns 48,430,821 shares in the company, valued at approximately $76,036,388.97. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 4,117,508 shares of company stock worth $7,032,080 over the last quarter. Company insiders own 53.10% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

Several institutional investors have recently made changes to their positions in LAB. Vanguard Group Inc. increased its holdings in Standard BioTools by 215.3% during the first quarter. Vanguard Group Inc. now owns 13,034,043 shares of the company’s stock valued at $35,322,000 after buying an additional 8,900,104 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Standard BioTools in the 1st quarter worth $23,993,000. Nikko Asset Management Americas Inc. purchased a new position in Standard BioTools during the first quarter valued at $23,993,000. Nan Fung Group Holdings Ltd bought a new stake in Standard BioTools during the first quarter valued at about $5,103,000. Finally, Magnetar Financial LLC purchased a new stake in Standard BioTools in the first quarter worth about $4,107,000. Institutional investors own 53.74% of the company’s stock.

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.