Evolution Wealth Advisors LLC Acquires New Shares in Standard BioTools Inc. (NASDAQ:LAB)

Evolution Wealth Advisors LLC acquired a new stake in shares of Standard BioTools Inc. (NASDAQ:LAB) in the first quarter, HoldingsChannel reports. The fund acquired 12,210 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently bought and sold shares of LAB. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Standard BioTools during the first quarter valued at about $23,993,000. Citigroup Inc. bought a new position in shares of Standard BioTools in the third quarter worth about $550,000. HBK Investments L P bought a new position in shares of Standard BioTools in the fourth quarter worth about $333,000. Parkman Healthcare Partners LLC increased its stake in shares of Standard BioTools by 20.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 603,620 shares of the company’s stock worth $1,334,000 after purchasing an additional 103,620 shares during the period. Finally, Hollow Brook Wealth Management LLC increased its stake in shares of Standard BioTools by 5.0% in the fourth quarter. Hollow Brook Wealth Management LLC now owns 1,874,405 shares of the company’s stock worth $4,142,000 after purchasing an additional 88,648 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

Insider Transactions at Standard BioTools

In other Standard BioTools news, Director Casdin Partners Master Fund, L bought 352,072 shares of Standard BioTools stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $2.56 per share, with a total value of $901,304.32. Following the acquisition, the director now directly owns 45,375,821 shares of the company’s stock, valued at $116,162,101.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,102,072 shares of company stock valued at $2,831,304 in the last three months. 53.10% of the stock is owned by corporate insiders.

Standard BioTools Stock Performance

NASDAQ LAB traded up $0.07 during trading on Wednesday, reaching $1.84. 1,360,555 shares of the company traded hands, compared to its average volume of 2,651,653. The stock’s 50 day moving average price is $2.32 and its two-hundred day moving average price is $2.39. The company has a market cap of $681.57 million, a price-to-earnings ratio of -1.80 and a beta of 1.68. Standard BioTools Inc. has a 1-year low of $1.57 and a 1-year high of $3.16.

Standard BioTools (NASDAQ:LAB) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). The company had revenue of $45.54 million for the quarter, compared to analyst estimates of $46.50 million. Standard BioTools had a negative net margin of 70.98% and a negative return on equity of 144.74%. Equities research analysts expect that Standard BioTools Inc. will post -0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen assumed coverage on Standard BioTools in a research note on Tuesday, April 16th. They set a “buy” rating and a $3.50 price target on the stock. Jefferies Financial Group assumed coverage on Standard BioTools in a research note on Thursday, April 4th. They set a “buy” rating and a $3.25 price target on the 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.