Standard BioTools (NASDAQ:LAB) Shares Up 5.9% – Time to Buy?

Standard BioTools Inc. (NASDAQ:LAB) shot up 5.9% on Tuesday . The stock traded as high as $1.81 and last traded at $1.80. 767,392 shares were traded during trading, a decline of 68% from the average session volume of 2,425,021 shares. The stock had previously closed at $1.70.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut their price objective on Standard BioTools from $2.75 to $2.50 and set a “buy” rating on the stock in a report on Thursday.

Standard BioTools Stock Performance

The stock has a market capitalization of $727.46 million, a price-to-earnings ratio of -2.21 and a beta of 1.58. The company has a fifty day simple moving average of $1.93 and a 200 day simple moving average of $2.10.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. The firm had revenue of $44.97 million for the quarter, compared to the consensus estimate of $42.00 million. Standard BioTools had a negative return on equity of 43.45% and a negative net margin of 87.05%. As a group, equities analysts predict that Standard BioTools Inc. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Standard BioTools news, Director Casdin Partners Master Fund, L acquired 500,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average cost of $1.57 per share, with a total value of $785,000.00. Following the transaction, the director now owns 48,430,821 shares in the company, valued at approximately $76,036,388.97. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have purchased 5,117,508 shares of company stock valued at $8,662,080. 53.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in shares of Standard BioTools by 433.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 18,128 shares of the company’s stock worth $35,000 after acquiring an additional 14,732 shares in the last quarter. Creative Planning bought a new stake in Standard BioTools in the 3rd quarter valued at about $39,000. SG Americas Securities LLC increased its position in Standard BioTools by 109.7% in the 3rd quarter. SG Americas Securities LLC now owns 101,257 shares of the company’s stock valued at $195,000 after buying an additional 52,970 shares in the last quarter. Maven Securities LTD bought a new stake in Standard BioTools in the 2nd quarter valued at about $177,000. Finally, Algert Global LLC bought a new stake in Standard BioTools in the 2nd quarter valued at about $44,000. 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.