Standard BioTools (NASDAQ:LAB) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Standard BioTools (NASDAQ:LAB) issued its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06), FiscalAI reports. Standard BioTools had a negative return on equity of 8.18% and a net margin of 73.46%.The business had revenue of $20.10 million for the quarter, compared to the consensus estimate of $20.80 million.

Standard BioTools Stock Performance

NASDAQ LAB traded down $0.04 on Wednesday, hitting $0.78. 2,153,794 shares of the company’s stock traded hands, compared to its average volume of 1,984,214. The firm’s 50-day moving average price is $0.89 and its two-hundred day moving average price is $1.01. Standard BioTools has a 1-year low of $0.70 and a 1-year high of $1.72.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Standard BioTools from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.35.

Hedge Funds Weigh In On Standard BioTools

A number of institutional investors have recently modified their holdings of the stock. Mak Capital One LLC lifted its holdings in shares of Standard BioTools by 21.1% in the 4th quarter. Mak Capital One LLC now owns 19,288,158 shares of the company’s stock valued at $24,689,000 after buying an additional 3,356,352 shares during the period. Vanguard Group Inc. grew its holdings in Standard BioTools by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,245,583 shares of the company’s stock worth $22,419,000 after acquiring an additional 263,845 shares during the period. State Street Corp raised its position in Standard BioTools by 1.3% during the fourth quarter. State Street Corp now owns 6,482,766 shares of the company’s stock valued at $8,298,000 after acquiring an additional 80,117 shares in the last quarter. Millennium Management LLC raised its position in Standard BioTools by 133.0% during the fourth quarter. Millennium Management LLC now owns 3,387,428 shares of the company’s stock valued at $4,336,000 after acquiring an additional 1,933,853 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Standard BioTools by 1.5% in the fourth quarter. ARK Investment Management LLC now owns 3,066,665 shares of the company’s stock valued at $3,925,000 after acquiring an additional 44,937 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.

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.