Standard BioTools (NASDAQ:LAB) Coverage Initiated at TD Cowen

TD Cowen assumed coverage on shares of Standard BioTools (NASDAQ:LAB) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $3.50 price objective on the stock.

Separately, Jefferies Financial Group assumed coverage on Standard BioTools in a report on Thursday, April 4th. They set a buy rating and a $3.25 target price for the company.

Standard BioTools Price Performance

Shares of Standard BioTools stock opened at $2.54 on Tuesday. The business has a 50-day moving average of $2.60 and a 200 day moving average of $2.32. Standard BioTools has a 12 month low of $1.46 and a 12 month high of $3.16. The stock has a market capitalization of $736.90 million, a price-to-earnings ratio of -2.67 and a beta of 1.64.

Standard BioTools (NASDAQ:LAB) last announced its earnings results on Wednesday, February 28th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The firm had revenue of $28.19 million for the quarter, compared to analysts’ expectations of $28.00 million. Equities research analysts anticipate that Standard BioTools will post -0.47 earnings per share for the current year.

Insider Activity

In related news, Director Casdin Partners Master Fund, L acquired 250,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $2.57 per share, for a total transaction of $642,500.00. Following the purchase, the director now owns 11,496,525 shares of the company’s stock, valued at approximately $29,546,069.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 53.10% of the company’s stock.

Institutional Investors Weigh In On Standard BioTools

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cannon Global Investment Management LLC acquired a new position in Standard BioTools during the first quarter worth approximately $54,000. Schoolcraft Capital LLC acquired a new position in Standard BioTools during the first quarter worth approximately $201,000. HBK Investments L P acquired a new position in Standard BioTools during the fourth quarter worth approximately $333,000. Vanguard Group Inc. increased its position in Standard BioTools by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,133,939 shares of the company’s stock worth $9,136,000 after buying an additional 159,413 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in Standard BioTools during the fourth quarter worth approximately $295,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

About Standard BioTools

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.