Standard BioTools (NASDAQ:LAB) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Standard BioTools (NASDAQ:LAB) posted its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.08, FiscalAI reports. The business had revenue of $23.80 million during the quarter, compared to analysts’ expectations of $18.50 million. Standard BioTools had a negative net margin of 86.06% and a negative return on equity of 20.89%.

Standard BioTools Stock Performance

Standard BioTools stock opened at $1.15 on Wednesday. The company has a market cap of $442.26 million, a P/E ratio of -3.38 and a beta of 1.29. Standard BioTools has a one year low of $0.92 and a one year high of $1.72. The business has a fifty day moving average of $1.38 and a two-hundred day moving average of $1.34.

Insider Activity

In related news, Director Casdin Partners Master Fund, L purchased 150,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was acquired at an average price of $1.45 per share, for a total transaction of $217,500.00. Following the acquisition, the director directly owned 72,100,000 shares of the company’s stock, valued at $104,545,000. This trade represents a 0.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 350,000 shares of company stock valued at $503,000. Company insiders own 23.16% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cibc World Markets Corp acquired a new stake in shares of Standard BioTools in the fourth quarter valued at approximately $25,000. Aigen Investment Management LP purchased a new stake in Standard BioTools in the 4th quarter valued at approximately $28,000. EntryPoint Capital LLC purchased a new stake in Standard BioTools in the 4th quarter valued at approximately $31,000. CIBC Asset Management Inc acquired a new stake in Standard BioTools during the 4th quarter valued at $33,000. Finally, Russell Investments Group Ltd. increased its position in Standard BioTools by 2,989.0% during the third quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock worth $33,000 after buying an additional 24,211 shares in the last quarter. Institutional investors and hedge funds own 53.74% of the company’s stock.

Wall Street Analyst Weigh In

LAB has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Standard BioTools in a research note on Thursday, January 22nd. TD Cowen reduced their price objective on shares of Standard BioTools from $1.55 to $1.35 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen downgraded Standard BioTools from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of Standard BioTools to a “hold” rating in a research report on Thursday, December 11th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $1.35.

About Standard BioTools

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.